Today on the Legalpreneur Podcast, I help you understand what is at stake if you don’t register your trademark. The good news is, if you are the first business to operate under the name you have priority to that name, even if a competitor registers the trademark. Although, without the registered trademark, you will have to settle it in court. The costs of filing a cancellation proceeding, discovery and the time spent fighting for the right to your name is sometimes too expensive for a small business to undertake.
The right to cancel a trademark due to priority expires once a trademark has been in business long enough to renew said trademark. Once the trademark has been renewed, any businesses operating under the name effectively have no legal grounds to the title and must rebrand.
Starting a business is hectic but if you’re launching or are in the early stages of business, I encourage you to register your trademark. Owning your brand up front allows you to confidently do business, so don’t wait to legally protect yourself and file your trademarks!
Key Takeaways:
[0:40] What to do if you’re in business first but haven't filed for a trademark
[2:00] The business operating under the name first has priority to trademark the name
[3:00] If another business trademarks your name before you do, it then has to be settled in court
[3:30] A cancelation proceeding costs 2-5k just to file and only gets more expensive from there
[4:20] Discovery is the most expensive part of the proceedings, costing anything from 10-50k
[5:20] Andrea Sager Law was ranked 27th out of 40,000 trademark attorneys last year
[7:10] Our trademark course will help you file and use your trademark to make passive income
[8:50] Canceling due to priority is not valid if your business has already renewed the trademark
[10:30] If you’re launching your business don't wait to file your trademark
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Disclaimer:
The Legalpreneur Podcast is advertising/marketing material. It is not legal advice. Please consult with your attorney on these topics. Copyright Legalpreneur Inc 2022
