Do you know the enormous risk of not having registered your brand in the geographic area in which you commercialize your products and services? It is fundamental to register your trademark to protect it in the geographical space in which you develop your business activity. Because your business brand is worth money: all the money that you’ve invested in online and offline advertising for your business, all the striving to get to be someone known and renowned in your sector, all the efforts that you put every day to improve your products and services and differentiate yourself from your competitors has a major impact on the value that your trademark acquires. Working without the duly protection and peace of mind got by registering your trademark and possessing it exclusively is a big mistake that many professionals and business make.
Your brand represents, therefore, the value of your company or business, and protects you, not only from frauds and forgeries, but also a trademark can even be sold or transferred for its own economic value that it has associated with itself.
Any product or service that can be sold has an associated brand that should be protected. The level of protection is related to the area in which you perform your activity. For example, you can register your trademark in Spain or in another country of the European Union, or register your European Union trademark if you are doing business at that level. Finally, you may even register your worldwide trademark if that is your current or potential market area. In general, you register your brand for a period of ten years, successively renewable by another ten years’ period, and so on.
The cost of processing and protecting a brand is very affordable, and has no comparison with the tangible and intangible value that gives you the protection of your brand, and therefore your investment, as a way of monetizing intellectual property for your business.
Your brand is not only the name of your company, but it is usually also the logo associated to it, and both must be registered and protected for the area of activity in which you develop it. For example, if you are a cafeteria, or restaurant, shoe shop, or any other type of business, and have your name and logo visible to the public, as it usually happens, and as a way to make your name, it is vital to protect your brand from other business, and especially from any one that may operate in your same sector. That is, another business using your same brand will cause a subsequent enormous damage and prejudice to you, because of the confusion caused to your customers, providers, etc.
You might even find yourself in the unpleasant situation that other business began to use your same brand and registered it before you did, and even he sued you and forced you to stop using your own brand, even paying damages to him. These situations, although they may seem unbelievable, occur more often than one might think.
On the other hand, the logical steps to initiate an activity and begin to use your trademark are the following:
1º Get advice and help from your Law Firm’s experts in intellectual property, so that you ensure that the brand that you want to use is not already registered and protected. Imagine the cost in advertising (posters, digital signage, your name’s signboard for your physical store, etc) that you can pay out to publicize your brand, to then find out that it’s already registered or, even worse, that you are sued for damages by the owner of that trademark already registered, and that you not only lose your investment, but you must also face sanctions.
2º Once you assure that the mark that you want to use is not already registered, it is time to proceed to protect it, to
3º Finally, start to invest in your brand and to build and develop it, making it known and increasing it value gradually while you develop your activity with the calm needed.
Doing extraordinary things in your business is in your power, benefitting from the guarantee granted by your registered brand, having the right to oppose to any other person or company that wants to register another mark that can be confused with yours, or even to sue someone for damage caused to your brand and business.
If you have any doubt or if you want to protect and register your trademark, please do not hesitate to contact us. We, Pérez Parras Economists & Lawyers Firm, are experts in intellectual property, and many of our clients already develop their activities with the peace of mind that the value of their brands grows every day, and are not going to see disturbed their activity by others.