A trademark is used to identify the source of goods or services. Some of the most recognisable consumer or business brands in the world are also the world’s most valuable trademarks. According to a recent survey, the world’s most valuable brands are, in order, Google, Microsoft, Wal-Mart, IBM and Vodafone. All of these brand names, and their accompanying logos, resonate with the public and create a clear image in the consumer’s mind of what goods and services those companies offer.
A registered trademark can increase the value of a brand, especially for companies providing consumer goods and services, those that are in knowledge-based industries and businesses that may be looking to franchise. Trademarks can also be vital to businesses that are providing services and goods over the Internet or in more than one state. In contrast, there is usually little value in trademarking the name of a local business that serves a very localised clientele. As knowledge-based businesses become more important to the economy, a valuable brand name and accompanying trademark can help you stand out from the crowd when much of the business’s value is in your head.
Most importantly, obtaining a federal trademark registration makes good business sense before investing substantial effort and resources in building brand awareness and equity. Do you really want to spend years and thousands or millions of dollars to promote a brand name only to find out either that you cannot protect it or that it impermissibly conflicts with a deep-pocketed competitor’s trademark?
Federal trademark registration can allow the mark owner to recover attorney’s fees from those who infringe the mark. In addition to providing exclusive benefits to the mark owner who wants to use the mark on a national or regional basis, obtaining a federally registered trademark can enhance the trademark owner’s ability to gain control over some of the most valuable real estate on the web – domain names related to or containing that trademark.
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