A few weeks ago, I had a little bit of a scare and it brought to mind a really important question you should ask yourself as a business owner and entrepreneur.
Just how niche are you and should you copyright or trademark your brand?
It depends on a few things:
Is this a unique concept?
Is it worth the investment?
Have you noticed anyone else attempting to profit off your brand or do you think someone might?
Recently I noticed another “Cupcake Consulting” popped up online. They have no website, but registered with the Better Business Bureau and created a page on LinkedIn. I’d talked to a lawyer when I first decided to launch the online version of my training program to find out whether or not I should trademark. She’d mentioned that it depended on the situation and that it is fairly easy to do.
In order to protect my brand, I have decided to trademark. Why? Because I put a lot of hard work into what I do and I don’t want anyone else to profit off that.
It’s possible that this new company (which appears to have been founded about 7 months ago and registered on the Better Business Bureau about 5 months ago) has nothing to do with what I do. But I really want to ensure it stays like that and that no one is confused.
Because my brand is established and has been visible on the web for over a year now, I’m well within my rights to do so. It’s an investment, but it also protects me and my clients from fraud.
So should you trademark your brand?
If you feel its integrity may be at risk. Absolutely.
Protect your intellectual property at all costs.
I also noticed the .com domain is being held by a company who is asking $2500 for it. Will I pay it? I doubt it. I believe I've already established the name and brand as my own.
If you can’t afford to trademark or purchase every domain, do what I’ve done and secure every social media handle with your company name and don’t let them go.
But first, do your research!
Before you end up investing a lot of time and money into something that already exists, first check to see if anyone else is using the name. Otherwise, it will only negatively impact you later.
To sum it up, getting a trademark and all the domains for your company name is ideal but, if you can’t afford it, lock down literally everything that’s free! Doing this is a great way to deter duplicates and squatters from trying to profit off your brand. After all, what good would the domain or a duplicate company name be if it’s already an established and/or trademarked brand and all social media handles are unavailable?
Craving the taste of sweet success? Don't stop here. Check out the Cupcake Consulting Guide, a step-by-step program to help newbie consultants hit the ground running!
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