Company name trademark infringement is a very expensive crime that many people don’t even know they are committing until it is too late. It takes a lot of work to get a business up and running, and just when you start making money, the worst that can happen is someone walks in and tells you they own the trademark and you are now cashing them in. are guilty. As a business owner, this is by far the worst thing that can happen to you and it happens to so many businesses when they start and finally start making money that it just crushes those businesses. With just a little bit of work and research when you start a business, you can easily avoid these mistakes and make a lot of money, and keep it in the long run.
Before naming your business, do a little research about what trademarks already exist for companies with similar names. If your company name is very close to another company’s trademark, there is a potential for infringement and conflicts can arise over time. Your business name and the products you sell are what customers see when they buy from you, so making sure you have a good business name that doesn’t infringe on another company’s trademark is super important and gets harder every day to find . The first to use the trademark is whoever gets to keep it, and they can sue if someone else infringes on that trademark.
Registered trademarks have a lot of legal backing and you are legally protected if someone decides to infringe the trademark. When setting up a business, it is highly recommended to register it under a trademark. This can also help you as they can easily find out if you are infringing on someone else’s trademark, but before you register you should have done all your research.
Many companies, especially those that do not have registered trademarks, hire name watch services that give you notifications of companies registering with similar names, that way you can shut them down if they start competing or harm your company’s name. There are many different things people can do that can hurt your business name, such as registering a domain and changing one character and posting obscene content. While this may not harm you directly, it could harm your brand as people can easily mistake you for that domain. Trademark monitoring is super important and if you don’t have it you run the risk of competition and confusion with other companies.
Penalties for Trademark Infringement of Company Names
Trademark infringement of a company name is quite serious and can wreak havoc on your business if you accidentally infringe someone else’s trademark. The biggest thing that can happen is that you have to change the name of your business to something else, which can lose a lot of customers if they are not notified of the name change. Other penalties for trademark infringement of a company may include paying large sums of money to the original trademark owner for any damages you may have caused by taking the business from them through the use of their name .
When starting a business, make sure your business name is easy to remember, represents the products or services you sell, and most importantly, avoid infringing on your company’s trademark.