If you’re planning to build your very own business, know that there are steps and processes that you should undergo. There are many steps, and one of them deals with legal matters, especially your trademark, but you don’t have to worry at all. You can seek help from a trademark lawyer or browse on the web for you to be guided.
Some law firms offer a package deal that includes the trademark lawyer’s fees, the application process, registration proper, and if you want to indulge in some special powers as your company’s trademark owner. You can also handle the whole process by yourself but ideally, you want the guidance of a trademark lawyer so you’ll be taking the right path. For starters, you can read this article since we’re going to tackle what a trademark is, why you need one, and how much it costs.
What is a trademark?
A trademark simply marks all of your products and services as your property and can protect you from any illegal imitations. Trademarks ensure protection for both business and consumers, making them an essential part of running a successful company. Trademarks can be in different forms. It may be in the form of a brand name, logo, slogan, or the company’s branding itself. A trademark is considered your intellectual property because the concept of your business comes from your ideals.
Basically, a trademark protects your intellectual property from being stolen, and you have to do it legally for it to be secured. There are numerous cases of imitating a brand. Other brands can still use your trademark, but you can come up with a mutual contract for this. Since you possess a licensed trademark, you can legally file a dispute if the other party has violated the agreement. This also applies to other companies that are using your trademark without you knowing.
Why do you need a trademark?
You need a trademark because it can increase the value of your brand or your business. It is also an effective communication tool because the brand name or the logo conveys intellectual, emotional attributes, and messages about you and your company’s reputation. It builds a strong rapport with your target audience, gaining trust and loyalty, and most importantly, you are officially running a legal and authorized business/company.
Trademarks also make it easy for customers to locate you because it can distinguish your products from your competitor’s products in the marketplace. It allows businesses to effectively utilize the internet and social media by letting your brand enter the search engine on different social media platforms.
How much does it cost to get a trademark?
You can submit a trademark registration application online, using the TEAS or the Trademark Electronic Application System. The USPTO also accepts paper applications but strongly prefers electronic applications. Trademark fees for electronic applications are currently $225–$400 per class of goods or services, depending on the type of application you file. The trademark cost for registering with a paper application is currently $600 per class of goods or services.
If you choose to hire a lawyer to conduct a trademark search or help you with the trademark registration process, you will also incur legal fees. These lawyers may charge you per hour, with the rates ranging from $125 to a few hundred dollars. Some lawyers will handle trademark registrations for a flat fee depending on how heavy your trademark would be.