My mentor Dan Lok challenged me to create this video. He's like, Andrei, you've got a ton of those long videos where you go through every little detail about trademarking. Why don't you create a short video that summarizes what people really need to know about trademarks in under 5 minutes?
Challenge accepted. Here we go.
First of all, what is trademarking? Trademarking is the only way to legally protect your ownership of what you think is your brand. Incorporations, LLCs, Domain names, Social media profiles—all of that is great, but none of it secures your ownership of the brand. Only trademarks do. So if you are an entrepreneur, a company, or a business owner, here are 3 reasons why you should trademark your brand:
Number 1. When you trademark your brand, you practically eliminate the risk that someone else will challenge your ownership of your brand. This will save you from wasting tens and hundreds of thousands of dollars on litigation or rebranding.
Number 2. With a registered trademark, you can go after anybody who takes a free ride on your brand to sell their products and services. And the best part is, in most cases, you don't even need to go to court: a simple demand letter is usually enough.
Number 3. When you trademark your brand, you are building an asset that you can sell, license or franchise. The brand is usually the most valuable asset of any successful business. There are tons of companies whose brands are valued in tens and even hundreds of billions of dollars. That's billions with a B.
OK, you're probably wondering WHAT should you trademark?
Well, first and foremost, it's your business name
Next, if you name your products or services, make sure you trademark these names. Think of it this way: Apple owns separate trademarks to iPad, iPhone, and iTunes.
Next, come your logos. If you have a good reason to have a logo, use the same reason to own your logo.
And finally, your taglines. If you came up with a catchphrase that helps you convert prospects into clients, it only makes sense for you to make sure your competition can't use the same phrase to compete against you, right?
To summarize this part, if it's worth promoting it's worth protecting.
Next question, WHERE should you trademark your brand?
Start with your home country first.
Then trademark your brand in all countries where your products and services generate over $30,000/year in revenue.
Then look at countries where you spend more than $5000/year on marketing or operations.
And finally, look at countries where you manufacture your products or any parts for them. For example, if you make your products in China to sell them in North America, if someone else trademarks your brand in China, you will not be able to export your products out of China.
OK, if you're wondering WHEN you should trademark your brand, in a moment I'm going to give you 3 reasons why you should trademark your brand RIGHT NOW.
First of all, if someone trademarks your brand even one day before you do, you will not be able to trademark your brand—unless you spend years and tens or hundreds of thousands of dollars challenging their trademark in court.
Second, realize that trademarking is a long process. It typically takes a year, two, or even longer in some cases. If you don't have a trademark by the time you need a trademark, you have a problem. So if you think you will need a trademark in, let's say, 6 months, you are already at least 6 months behind.
Lastly, the longer you have been growing your business without a trademark, the more people now know that you care about your brand—just not enough to protect it. Every success you achieve exponentially increases the risk of someone hijacking your brand.
Finally, assuming you are serious about your brand and your business, here are the 3 reasons why you should trademark your brand with Trademark Factory.
Number one. Your application will be handled by experienced attorneys and trademark agents from start to finish. We're not one of those online form filing services that will take whatever garbage you throw at them and file it with the Trademarks Office.
Number two. We charge one single flat fee for the entire process that covers even the most complex scenarios. No billable hours. No hidden fees. No surprises. No BS. If it gets complicated, it's our problem, not yours.
And finally, number three, we offer a 100% money-back guarantee. Your trademark gets approved by the Trademarks Office or you get a full refund. That simple.
So there you have it. This is really all you need to know about trademarks in under 5 minutes.
If you'd like to get into details and specifics, make sure you watch my other videos and playlists and make sure you subscribe for future videos.
And if, after watching this video, you realize you should trademark your brand and you want to do it with Trademark Factory, go to TrademarkFactory.com or simply follow the link below to book your free call with one of our strategic advisors.
I'll see you on the other side.