Trademarking your slogan might not seem like something that a company has to do immediately, but it does have its advantages. Without trademarking, the business and advertising world would be much different; it could be filled with many similar slogans and it would be difficult for customers to differentiate your company from the competition. Here are five of the best reasons to get a trademark on your slogan.
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1. Trademarking Prevents Others From Trademarking Your Slogan
Getting a trademark for your slogan not only keeps others from using it, but it can also prevent another company from trademarking it for themselves. It is not as uncommon of an occurrence as one might think;when this happens, a company is contacted by a lawyer representing another company telling them to stop using their trademark. Fighting this can be worth it but it can also be expensive so it is important to weigh the options. Many hours of marketing and marketing materials can be wasted if you lose a trademark case, so getting a trademark early can help avoid wasted money later. The main purpose for a trademark is to be able to differentiate companies in a certain space or marketplace.
McDonald’s is a great example of a company who is not worried about taking companies to court over trademark infringement. This is for a variety of reasons but the main reason is that they are a global brand with enough money to pay lawyers for long drawn out cases. McDonald’s does not win all of their cases but they won a case against Quality Inn who wanted to open a chain of hotels called McSleep Inn. McDonald’s eventually won the case and continues to fight trademark infringement around the world.
2. It Can Drive Social Media Tags
A great example of a slogan that has an enormous following and is commonly tagged on social media is that of Nike’s “Just Do It”. The hashtag version, #justdoit, is used in over 6 million posts on Instagram alone. The posts range anywhere from people buying Nike products to those using Nike products while working out.
Nike has obviously built their brand on this slogan, and having a trademark is important as similar slogans cannot be used by competitors. There would be an outrage is Adidas all of a sudden turned their slogan to “Just Do That” because it could create ambiguity between Nike and Adidas.
3. You’ll Stay in Business Longer
There was a study at the University of Melbourne that found that businesses that trademark slogans or logos are more successful. In fact, for each trademark the business took out, an average of about two years was added on to the business’s life. This could be because it makes the company look more professional, which keeps customers coming back. Slogans and trademarks can also earn extra money for the company, which can be attributed to adding longevity to businesses. An average trademark infringement lawsuit can cost up to $100,000 with no guarantee of winning. This could account for some businesses in the study closing their doors earlier than those who have trademarked their slogan. While some trademark lawsuits can bring in millions of dollars for a company, the company has to make the decision and rely on their legal counsel as to whether they will proceed with the lawsuit.
4. You Can Make Money Off of It
If your business has a catchy slogan that has been trademarked, then it can be profited off of. For example, if a community group wanted to use your slogan or logo on their t-shirts, they could pay for the use of the slogan. Companies can license out their slogan or logo to others for as much or as little money as they want.
If your slogan is used without your permission then you can go to court and be rewarded monetarily. Companies sometimes can profit immensely off of this, especially if the offending company did not publicly apologize or settle out of court.
5. Secures Your Trademark in the U.S.
Although a trademark from the United States does not protect a slogan overseas, it can prevent imported products from using your trademarks. This is the reason that some brands change the name of their product when they begin selling in the United States. Many knockoff products and slogans can be made overseas as the regulations are not as strict as they are in the United States.
As you can see, there are reasons you shouldn’t wait to trademark your business’s slogan. It can be a lot of work to rebrand if someone else takes your slogan, as your marketing department will have to start from the beginning again. Having a great slogan that speaks to what your brand is about is important and not overthinking the slogan is equally important. Good luck trademarking your brand, it could be the beginning to a great company that might eventually turn into a powerhouse.
from Darlene Milligan http://ift.tt/1MSCRcg via transformational marketing
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