New Jersey businesses understand that customers tend to have loyalty to certain brands, but many businesses do little to monitor their trademarks in order to protect against infringement. Unfortunately, the incidence of trademark infringement has been increasing, potentially harming the bottom lines of their owners.
When trademarks are infringed, it can severely damage a business. Infringers release counterfeit products and dilute the market, potentially causing losses and damage to the company’s reputation. When businesses do not fully monitor their trademarks, the harm can be extensive. The internet has made the world much smaller and has allowed infringement to exponentially increase.
Business owners should implement a strategy for protecting their trademarks. They should figure out how much they are prepared to lose and what they are prepared to spend on monitoring. If they discover that another entity or individual has applied to register a trademark that is very similar to theirs, they can file an opposition to it in order to protect their brand. If the similar trademark has already been registered, the business owner can file a motion for a cancellation procedure.
Protecting trademarks is vital to businesses. When an infringement happens, it can cause lasting damage. Business owners who have discovered that other entities are infringing on their trademarks might benefit by consulting with business and commercial law attorneys who are experienced in intellectual property litigation. Attorneys might be able to help by filing documents for their client to oppose the granting of trademarks and for their cancellation. They may also sue to recover damages in order to help their clients to be made whole. In addition, attorneys may secure injunctions against the infringing party to prevent them from using the trademark immediately and into the future.