210 - 5 Reasons To Register Your Trademark

Business Legal Lifecycle Podcast

We're talking about trademarks. They are an incredibly part of your business. Here are the five things you need to consider before having your trademark registered. Have a unique name You have to make sure the name of your business is really unique. Todo that that you have to do multiple searches to ensure someone else hasn’t already claimed that name. If your name is unique and it has value, trademark it! Protect the brand You’ve spent a lot of money developing your brand. You have to protect it! This becomes especially important when you’re getting ready to sell the business. A trademarked brand seriously increases your value! Getting ready for a franchise When you sell a franchise to someone else, you're selling your brand and your system. And your brand really is your registered trademark. And when people are buying franchises, think of McDonald's and KFC, they're buying the brand. We've had cases in the past where people have decided to franchise but haven’t been able to register their trademark. It cost them a lot of money! Getting ready for a sale If you're wanting to exit is by selling to another company company. So in any sale, the prospective purchaser is going to be looking into how you operate. One of the first things they will look for is whether or not there's a registered trademark. No copying! There are a lot of brands out there and copying them is pretty easy. Some people just have no filter and no ability to actually stop themselves from stealing other people's good ideas,