Trademarks 101: Intangible Company Assets

Introduction

One challenge nearly all start-up businesses face is the selection and protection of trademarks – the brand names for their goods and services. Trademarks are used to distinguish a company's products from those of competitors, and they create lasting impressions in the minds of consumers. Trademarks are a powerful catalyst for customer identification and loyalty. Thus, effective, protectable trademarks can provide tremendous value to a new or existing business. While the competitive advantage offered by intangible company assets can be immeasurable, the budgets for protecting these assets can be limited. Therefore, it is important for businesses to understand the basics of selecting and protecting trademarks, and to seek counsel who will help guide them in developing the best strategies for selecting and protecting trademarks within a reasonable budget. This article provides a basic trademark overview and identifies several tips and common pitfalls for