5 Steps To Preserve Your Business Name
- Written by NewsServices.com
Your business name is crucial to your operations and overall success. It distinguishes, represents, and separates your brand from the competition. Also, it allows people to easily identify your products and services just by looking at your business name.
So, have you come up with a unique, catchy business name? If you have, it’s important to understand that others may use it for their own gain without your permission. This is especially true for business names with no legal protection.
If an individual starts a company using a business name like yours, your customers might get confused, your sales and revenue might suffer, and your reputation might get tainted. This is why protecting your business name should always be one of your top priorities.
Luckily, there are many ways to preserve your business name, and you can learn how in this post. This article will focus on discussing some of the crucial steps you’ll need to take to protect your name and prevent others from using it without your permission. Read on to learn more.
- 1. Apply For A Trademark
A trademark is a form of intellectual property that can give you absolute ownership and exclusive rights to your business name. This means only you have the right to use, copy, and distribute your business name in commerce.
In addition, it’s important to understand that applying for a trademark doesn’t secure immediate trademark protection. The protection you seek will only apply once you start using your mark in commerce.
Also, you can apply different types of trademark protection depending on the situation. These include:
- Common Law Trademark Protection: This protection can be applied to marks that haven’t been registered yet. However, you need to prove that you’re the first one to use that mark to retain your ownership over it.
- State Trademark Protection: This protection can be applied when you file a trademark in the state where your business operates. However, it doesn’t provide nationwide protection.
- Federal Trademark Protection: You may visit the United States Patent and Trademark Office (USPTO) for trademark protection on a federal scale. This means your trademark is protected within the entire US territory.
- 2. Monitor Your Trademark
After trademark registration, the next thing you can do is to conduct trademark monitoring. This process will inform you whenever someone attempts to register a mark similar or identical to yours and help you navigate any possible infringement case.
To conduct trademark monitoring, visit the USPTO’s Trademark Electronic Search System (TESS). This online platform can help you look for trademarks identical or similar to yours.
If you find someone using your trademark without your consent, you may call their attention by sending them a cease-and-desist letter. If they persist despite the letter you sent, consult a trademark lawyer to determine if there’s a need to file a lawsuit against them.
- 3. Form A Corporation Or Limited Liability Company
Forming a corporation or limited liability company (LLC) is one of the most effective ways to protect your business name. This is because most states don’t allow two different entities to share the same name.
Also, some states may not allow business entities to use a substantially similar name. For example, the name ‘Cola-Loca’ may be prohibited because it’s deceptively similar to ‘Coca-Cola,’ a world-famous beverage company.
By forming an LLC or corporation, you can protect your business name and prevent other entities from unauthorized use of it. You may contact your state agency to confirm your business name’s availability.
If it’s still available, your state may allow you to make reservations. This is particularly useful if you need more time to prepare before using it in commerce. Limited reservation offers may vary from state to state. Ask your home state agency to confirm and ensure your timely submission.
However, it’s important to understand that the protection offered by LLCs and corporations has limitations, such as:
- - Your business name is only protected under your state’s jurisdiction.
- - Other entities outside your state can use your name as long as they don’t operate within your home state.
If you want to protect your name on a federal scale, consider registering for a trademark with USPTO for federal-level protection.
- 4. File A ‘Doing Business As’ Name
Is it possible to protect a business name without establishing an LLC or corporation? Businesses under partnership and sole proprietorship often use a name other than their owner’s.
For example, an individual named Stefano Gilroy may have a company named Quick Clean Laundry Service. Sometimes, such companies have one official name and a separate name for day-to-day operations. Quick Clean Inc. might have a brick-and-mortar shop named Easy Clean Laundromat, for example.
Quick Clean Laundromat is an example of DBAs (Doing Business As). If you own a DBA name, you might need to register it with your state or locality. Other states may not require companies to do so.
Although registering a DBA is optional in some states, doing so may grant you significant benefits, such as:
- - Letting people know you own a particular business
- - Creating a public record regarding the use of your business name
- - Discouraging competitors and other individuals and entities from using your name
Once your DBA name is registered as a trade name, other entities won’t be able to use it. They’ll be prohibited by the state from doing so; otherwise, they have to face legal consequences.
- 5. Register Your Business Name As Domain Name
A domain name is a specific internet address of an online website (e.g., www.abcd1234.com). It’s often purchased from a third-party service provider that offers domain registration services.
Registering your business name as a domain name can prevent other individuals and entities from using it without your permission. Even if you have no plans to build a website, it’s still best to register a domain name so you have a business name you can use when you need one.
However, the protection domain name registration provides has limitations. It only prevents other people from using your domain name as theirs. But it doesn’t prevent them from using it in many other ways.
In that case, consider setting up multiple social media accounts using the same domain name to prevent other companies from doing so.
Final Words
Protecting your business name isn’t as easy as 1-2-3. You must be proactive to prevent others from stealing your gains and damaging your reputation.
Registering your business name at the state or federal level can protect you and your business from unlawful use. And if you think someone is using your name without your consent, seek legal counsel and know your options.
