When you are getting started, it can be easy to underestimate the value of your branding and other intellectual property. You know larger organizations need trademark protection, but it can be challenging to know when it is time to seek protection of your own.
The intellectual property of your business is what makes it valuable. Without your ideas and the branding behind them, your company would be indistinguishable from your competitors.
Here’s what you should know about the value of trademark protection for small businesses.
Staking your claim early
Part of building your brand is creating something your customers will recognize. While your logo and other ideas may not seem important now, after significant time in the marketplace, your customers will start to think of you when they see your mark.
It is important to seek trademark protection early in the process. Not only does a trademark take time to obtain, securing a trademark ensures you own the designs that are critical to your business.
Is it worth the expense?
When getting your business started, you need to manage your budget and expenses. It can be difficult to prioritize the cost associated with the trademark process while your company is still in its early stages.
Consider, however, the cost that would need to go into creating something new if you do not have the appropriate protection. Even if you can prove you had an earlier claim, the cost to litigate the issue could quickly exceed the price to get proper protection. Also, if you could not litigate the claim, you could find yourself back at ground zero.
Trademark protection is an essential part of building your brand and your business. It is important to seek protection early to protect your interests.