What Are the Best Ways to Protect My Business Name in the US?
A business can have a unique name that, if not well protected, can be taken over by another business. Your business name is your brand’s first representation, which means that you have to carefully safeguard it.
A unique business name that’s well-protected will make your business easily identified by your customers. Should your competitor take up your business name or use a similar name, it will confuse your customers, and you may lose them in the long run.
In this article, you will discover the answers to your long-term question of the best ways to protect your business name in the United States.
Importance of a Business Name
Everyone looking to start a business knows that a business name is needed before registration, but not so many of them are aware of the importance of the business name. Understanding the importance of your business name will give you insight into how to protect your business name.
1. First Impression
Before anyone gets to know your products or the kind of services you offer, your business name gives a first impression. It is a representation of your brand. It gives an insight into what your business represents and its values.
My business name is also the first impression with potential investors before getting to know them. Investors see your brand value through your business name and decide if your values align with theirs and if they would like to partner with you.
2. To Stand out
Names can be emotional as long as you find them appealing to your audience. However, business names can have either a positive or negative impact on your business.
Choose a name that resonates with the value your business brings.
Business names are chosen depending on the industry you operate in. For example, the name you give to a clothing brand will be different from that of a sex toy brand.
The business name also helps your customers easily identify you amongst your competitors.
3. Target the right audience
Business names help reinforce the values of the business. If your business is associated with games, a funny name may be your best bet.
The audience varies depending on the type of goods, if you run a food business, your brand name may be similar to these options: Lian Soup, PepsiCo, McDonald's, Mars, Coca-Cola, Snickers, etc.
Electronic or home appliances brands will have different brand names, for example; Bosch, KitchenAid, Samsung, LG, JennAir, etc.
Brands of products in the same industries are quite similar yet unique, while brands of products in different industries are distinct from each other.
4. Enhance Marketing
A business name travels faster through word-of-mouth marketing or referral. When you choose a business name that's appealing and easy to remember, people will keep talking about it. Hence, word-of-mouth marketing.
Referrals can be made via word of mouth, social media, and online reviews.
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How to Choose the Best Business Names for My Business?
New business owners usually fantasize about the names they would like to give the business. However, business names go beyond emotions or what the owner likes. Choosing a business name is strategic, and it requires a few steps, which are listed below:
1. Understand your business value
Understanding your business value is a great determinant of your choice of business name. Your business name must align with your brand value as well as your business industry.
Make a study of competitors' names and check out how each name uniquely gives insight into the business itself.
2. Choose two words that make up your business name
As a business owner, you may already have a business name in mind or words that describe the service you render. You can choose the first two words that make up your business and transform them into a business name.
For example, Coca-Cola, JellyBelly, or King Kong.
3. Follow your state guidelines
Before proceeding to register your business name, check the state website that is responsible for business filing; there, you can check if your chosen name already exists.
You wouldn't want to be in a situation where you're found using an already existing name, which can attract a lawsuit.
4. Choose words from a different language with the same meaning
It is common for business owners to use names from different languages that have the same meaning. Some use Hebrew, Greek, or Latin words.
For example, Kairos, Iris, Aviv, Avodah, and Cognito. These names are derived from common English words and then translated into different languages of their choice.
5. Avoid unnecessary long words
Long words can be boring and rigid to pronounce. As a business owner, you shouldn't stress your audience with unnecessarily long words.
Consumers will go with any words that are flexible to pronounce and appeal to them.
What Are The Best Ways to Protect My Business Name?
The business name is as crucial as the business itself. It is a representation of the business's identity and value.
Should anything go wrong with the business name, it can affect the business itself.
Over the years, the question “What are the best ways to protect my business?” has been a source of concern for new business owners. In this section, we have outlined the best ways to protect my business. Read along!
1. Establish a corporate entity
Register your business with the state authorities. Establishing a corporate entity can shield you from competition in other states or imitations in your home state.
You can visit the state corporation website to register your business or seek professional guidance with our team at Foundeck.
2. Trademarking
While this isn't compulsory, trademarking your business name gives it additional protection, so no competitor will use the name.
To begin, visit the US Patent and Trademark Office website to confirm if anyone else has already trademarked a similar name.
You also have the privilege to trademark your logo alongside your business name.
After confirmation, you can proceed with applying for a trademark. Although the process is a bit complex, it is worth the effort.
Legal Requirements for the Trademark Process:
- Your name or business name.
- Logo
- Contact details of the applicant.
- Hire an attorney
3. Register a domain
Every business now has an online presence. To protect my business name online, register a domain name.
Once you come up with a name for your business and the business has not started operation, register your domain name with alternate extensions such as .com, .net, .org, and .biz.
Finally, ensure you set an automated renewal upon registration, so you don't lose the domain name when it expires.
4. Copyright a business name
Copyright protection is for artistic works (e.g. music, books, movies, and paintings).
To protect artistic works, copyright your brand name.
5. Seek Help from Legal Experts
You may need to hire an attorney or legal expert to help you through this process. Let's do the work for you.
How To Respond To Infringement
After registering and trademarking your brand name, it doesn’t stop others from infringing on your business name. You must make an intentional effort to protect your business name. Some of these include:
1. Prepare your evidence
The first step to protecting your business at the discovery of any infringement is to gather all evidence. Evidence could be a screenshot or paperwork of the infringing materials. Anything to prove your allegations.
Check the products or services that have your brand name, and check for similarities in your product and brand value before you proceed with your allegations.
2. Consult a legal expert
After confirming the infringement, consult a lawyer who specialises in intellectual property law. They can advise on legal actions to take.
3. Forward a Cease and Desist Letter
A cease and desist letter is the first legal act of defence against the infringing party, demanding that they stop the use of your trademark. The letter comprises the evidence, infringement statement, and deadline.
4. File a lawsuit
You might have to sue the infringing party for trademark infringement in court if they don't agree to your demands or try to settle. Your attorney will represent your interests in court and assist you throughout the legal procedure.
5. Close Monitoring
Even after the infringement dispute has been resolved, it is crucial to keep an eye out for any unlawful use of your trademark in the future and to act quickly to enforce your rights if needed.
Impact of Brand Infringement
Brand infringement is not to be taken lightly because of its impact on your business reputation.
Though the impact may not be immediate, if you do not take action to prevent it, the consequences will cost you more than you can ever imagine.
1. Reputational Crisis:
Infringement can create a reputational crisis for the business image. Consumers will begin to doubt the authenticity of your business. If the brand that infringes on your trademark produces low-quality items, it will affect your consumer's trust in your brand.
2. Market Confusion
In the marketplace, there is confusion about which products are authentic, which may result from brand infringement. Your business may lose sales as a result of this uncertainty, which would affect its standing in the market.
3. Reduced Sales
When customers doubt your product, patronage will be low, thereby leading to a reduction in sales. Consistency and originality attract customers and if that is missing, customers won’t trust the brand anymore, if that is missing, customers will patronise other brands.
4. Impact on Business Partnerships:
Potential investors will not be attracted to a brand that’s already causing confusion in the market. Nobody wants to partner with a brand that consumers doubt.
This can damage relationships with partners, licensors, and licensees who may be concerned about associating with a brand involved in legal disputes or whose intellectual property rights are not adequately protected.
Conclusion
This article has given an extensive explanation of the best ways to protect my business name. If you suspect any infringement, contact our professionals, we have the best team that can help you through the process. Have a question on how to protect your company name? you can contact Foundeck here for answers to all your questions.
