Since unguarded intellectual property is exposed to risk of loss, do not fall into the trap of thinking that the great business idea - be it a trademark, slogan or tagline is yours just because you conceived it. Business names and brand names - your intellectual property - can be a vital and lucrative part of your business but only if it has value and only if it is something that the law protects. Before investing in a slogan or publicizing a brand, invest in making it exclusive. To keep others from using it, consider three things:
1. Just naming an Internet site does not mean that the URL granted any rights to trademark. Don’t just rely on a domain name search alone. Just because a domain name is available doesn’t mean the trademark is. Ensure your trademark can be protected. If someone else has already registered that trademark – or one very similar – you may not be able legally make use of it.
2. Marketing a line of umbrellas using the trademark “Umbrellas” won’t work because you can’t use a generic name as your trademark. Pick a unique and distinctive name and then run a comprehensive search. This will involve more than checking with the U.S. Patent and Trademark Office because their database only covers applications filed and registered with them. Plus, a search should look for any trademarks that are similar because an application can be rejected it if is to close to something already registered.
3. Avoid losing your rights by being diligent about protecting your intellectual property from infringement. Monitor the market for anyone infringing on your trademark and take a proactive strategy to protect your brand from anyone trying to claim it as their own. When combating infringement, use a lawyer to help draw a hard line.
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