Own a start-up? Here’s what you need to know
As businesses increasingly shift online, trademarks are becoming the crown jewel of any company’s asset portfolio. With a basic understanding of intellectual property protection from the get-go, you as an entrepreneur can better manage opportunities and assess risk in your area of expertise. Not only do trademarks enhance your company’s assets portfolio, but they also serve as a pivotal factor for businesses seeking external financing.
What types of IP to consider
There are many types of intellectual property assets to be considered, depending on your area of expertise. For instance, if your startup is a technology company, you may consider filing a patent application to safeguard specific devices or methods. Trademark protection on the other hand is more versatile and is recommended to most – if not all – startups regardless of the business description nature. Why is this crucial? Think of trademarks as the main asset of your IP portfolio. Once your business is launched, you will use a specific name everywhere: to distinguish yourself from competitors, to gain recognition, to market your products and services or even to attract employees.
When to register
When it comes to IP protection, the golden rule is always “the sooner, the better”. These days, a start-up can be set up within minutes, with certain countries even allowing company registrations online. As the business environment is becoming more and more dynamic, proactive thinking and planning are paramount, making early trademark registration a vital step. Ideally, it’s advisable to register your trademark before officially registering your business to prevent unnecessary conflicts with other companies in your industry. Additionally, if you’re still deciding on a brand name, conducting a Trademark Availability Search can guide your decision-making process. This search helps ensure that your chosen name isn’t already trademarked by a competitor, allowing you to make informed choices before investing in your promotional strategy.
Consider asking for specialized assistance
While IP protection is important, its conditions may at times be difficult to navigate through. Startups, particularly those in technology, often face unique challenges that necessitate expert assistance from reputable intellectual property specialists, so don’t be afraid to address all your queries. What may initially appear as a straightforward registration form could potentially lead to future complications if not handled accurately. Our specialists offer solutions to various challenges, including selecting a distinctive brand name, determining applicable IP assets for your business, and identifying the optimal timing and locations for protection. Establishing a robust IP strategy from the outset can save considerable time, effort, and resources down the line. For specific inquiries, feel free to reach out to us at contact@braendum.com or through the dedicated contact page provided here..
If it’s not launched, it shouldn’t be disclosed
Some jurisdictions have a “first come, first serve” approach to intellectual property protection. Before revealing your brand name, it’s best if you take necessary measures to make sure it has an added level of security from copy-cats or counterfeiters. Moving forward, some areas of your business should remain permanently undisclosed.
Already have an IP portfolio? Stay updated!
Whether you’ve already applied for a trademark or hold a registration certificate, it’s essential to tailor your strategy based on your plans for the next 3 to 5 years. While trademarks are typically granted for life, many jurisdictions require maintenance every 10 years. Ensuring the proper transfer or renewal of your trademark is crucial to maintaining the strength of your IP portfolio. Additionally, as your business experiences growth, international expansion may become a priority. Seeking guidance from an Intellectual Property specialist ensures the seamless and cost-effective expansion of your IP portfolio. Feel free to fill in the form below for further assistance.
