If there’s one thing successful business owners have going for them, it’s a strong, identifiable brand. You can also bet they realize that their brand name is perhaps the most valuable asset in the business. In a perfect world you’d never have to worry about protecting your brand from encroachment, dilution, or outright theft, but unfortunately, that’s not the place we live. Consider the following five steps as critical to minimizing the chance your brand will be compromised. There’s a little more to it than simply registering a trademark.
Trademarks
Of course, the first thing you should do is trademark your brand name. While it might make sense to execute this same protection on individual products and services, don’t forget to head over to the U.S. Copyright Office website and familiarize yourself with the process of protecting your overall name. It’s the single best way to put the law on your side if a dispute ever arises.
Become the Brand Police
The world is a big place, and you shouldn’t rely on the iffy possibility that any infraction on your brand name will naturally come to your attention. You need to be proactive. Possibly the best way is to set up a Google Alert that generates an email any time your brand is used online. If you find an infraction, it’s time to call an attorney.
Cease and Desist
When you find unauthorized use of your brand name, the first step your lawyer normally will suggest is to send what is called a Take-Down Notice, which is nothing more than an official cease and desist request sent either via email or certified snail mail. It’s even better if a lawyer signs this letter.
Spread it Around
The goal here is to use your brand name and variations on it in conjunction with as many services as possible. The more it is used, the better legal protection you’ll have against a competing business trying to use separate aspects of it. One example is billionaire Richard Branson endless iterations of businesses with “Virgin” in the name: Virgin Airlines, Virgin Music, Virgin Mobile, etc.
Contractual Intellectual Property Protection
It might be a hassle, but you should require employees and contractors to sign a contract that includes a proviso against the use of your brand name (or any other intellectual property) for either business or personal use. Once they sign it, you have as close to ironclad protection as is possible against theft or misuse from within.
The Bottom Line
When first starting out, it might be difficult to motivate yourself to spend the time and money required to undertake the process of properly protecting your brand name. Don’t shortchange yourself. Do it now! An undiluted killer brand could be the difference between a failed business and unimaginable wealth. What we’re saying is the time to get serious about protecting your brand name is at the beginning. The law can work hard to protect your rights but only if you lay the groundwork first.