Nearly every business has a trademark, but few know what a trademark is. Even fewer take the steps necessary to protect what for many companies is their most valuable asset. A little insight may help you choose between "good" and "bad" trademarks, and steer you clear of costly lawsuits.
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So what is a trademark?
A trademark is a mark that identifies goods or services coming from a particular source. The mark may be a word, name, phrase or symbol. By identifying goods or services as coming from a particular source, consumers can go back to that good or service time and again, relying on the quality they have grown to trust.
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How do I "get" a trademark?
You cannot obtain trademark rights unless you actually USE the trademark in commerce in association with goods or services. Without use, there is no trademark. Even if you have a trademark, if you stop using it, it will go abandoned after a period of time.
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Common Law Trademarks
Once you start using your trademark in commerce, you obtain what are known as "common law" trademark rights. Common law trademark rights can be effective in obtaining an injunction or a judgment against someone infringing your trademark, but they do not provide all of the benefits associated with state or federal trademark registration.
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State Trademark Registration
Every state provides for both registration and enforcement of trademark rights. While these state protections involve a small cost, they typically offer little more protection than common law rights. Accordingly, most companies opt for either free common law protection or much more valuable federal law protection.
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Federal Trademark Registration
Federal trademark registration is more costly and more comprehensive that either common law or state protection. Federal protection may involve governmental and attorney fees of $1,200 or more and a wait of 1-2 years.
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