HOUSTON BUSINESS REVIEW

CYA: WHAT IS IN A NAME?
By Shahara Wright

Shahara D. Wright, Business Law Attorney, "Serving businesses from start-up through expansion". You can cantact her by: calling her at (281) 980-2040, sending her an e-mail or visiting her website. For more information concerning Shahara Wright click here.

The name of your business is one of the most important assets that your business has. This means that before you choose it (or if you have chosen it already), you need to do some investigation for the sake of the business. So many companies die early on because they are sued for trademark infringement. A successful suit could mean that your business now has to stop using the name that it has been marketing since the beginning and pay damages. This is very damaging to a business and I guarantee that things will never be the same after this happens. So what should you do?

You need to conduct a couple of searches. You of course want to see if the name is available in the state and territory that you are doing business. You then what to see if that name has been trademarked on the federal level. There is such a thing as a state trademark however this is not as strong as a federal trademark. In short, a state trademark will protect your business name only in the state where it is registered. The federal trademark will protect your business name in several states without having to register in each state. Also, you can take advantage of the various federal laws that are made to ensure that others do not infringe upon your business name. Last but not least, do an internet search to see if there are any web addresses that utilize your name. This is important because if affects the strength of your trademark because this name may have been utilized for a long time before you started, and they may have what is known as a “common law trademark.”

Protecting your business names is important because it is a valuable asset that has money attached to it. If you decide to sell your business you can use the fact that you have a registered trademark, registered website, and incorporated name to your advantage. The branding of the business name is imperative when you are marketing, contracting, and leveraging your business. Make sure that you consult your business attorney when protecting your business name. Trademark laws can be tricky and if the trademark is not done quite right, you have wasted your filing fees as well as the money you thought you saved by doing it yourself. So, get in the game and find out what is in your business’ name!

Nothing in this article is intended as legal advice and you should consult an attorney before making any decisions.