If you are starting your own business there are many matters that need to be considered. One of the things big things that needs to be addressed at the outset is the company’s name. How the company will be branded should also be considered.
At first look this may seem like an easy task. The reality however is a fair amount of thought should be put into this determination. This is because if the matter is not handled correctly, it could lead to legal troubles. This could cripple a new business before it even has a chance to get off the ground.
A trademark can be used to protect a company’s proprietary product. In addition, it can keep competitors from using or misusing the services or products the company has. There are multiple types of trademark brands:
Some of the brand types are easier to protect than others. For example, legally it is impossible to protect a generic name. Names that are descriptive fare only a little better. On the opposite end of the spectrum, the uniqueness of fanciful names makes them the easiest to protect legally. Arbitrary and suggestive names fall in between.
Which direction a company wants to go regarding a brand name will depend on a variety of factors. Regardless of the type selected it is in the best interest of the business that it be identifiable and protected.
Working with an intellectual property lawyer early in the process can go a long way toward avoiding costly litigation pertaining to protecting a business’ brand. This, in turn, could have an impact on whether the business succeeds.