Trademark Advantages for Florida Startups
Startups shouldn’t overlook the different ways that they can benefit from registering trademarks either with the State of Florida or the United States Patent and Trademark Office (USPTO). They’re a highly beneficial asset from both financial and legal perspectives. Not only do they protect the elements that the startup uses to define itself to the public, but can play a big part in expansion and transactional matters as well.
1. Trademarks Make a Startup’s Brand
A startup’s trademarks form the foundation of its branding and marketing strategies. Today’s business climate is more competitive than ever regardless of the startup’s chosen industry. Strong, easy-to-recognize trademarks are one of the best tools for setting a company apart from its competition. They can make your goods and services more memorable and easier to find on the shelves, too, while also providing an added degree of professionalism.
2. Protection and Recourse Against Infringement
The protections granted by registering a trademark with the State of Florida or the USPTO are among the most well-known and appreciated reasons to register in the first place. A lot of time, effort, and creativity go into a startup’s name, logo, and other branding elements. If these elements aren’t registered, then they could be snatched up by a competitor. This can damage the association between the brand and the startup. Trademark protections not only prevent others from registering these elements – they also offer a path for enforcement.
3. Growing and Scaling the Startup
Federal trademarks will be essential for startups planning to expand nationwide. This is because Florida State trademarks are only enforceable within the State’s borders. In other words, a State trademark might be fine for local businesses, but Federal registration is necessary to enforce a startup’s trademark rights nationwide or online. Startups that haven’t registered any trademarks or those who have only registered at the state level could have additional problems moving outside of their initial state if their brand elements have already been registered by another person or entity.
4. Securing and Increasing Value in the Startup
Another great thing about registered trademarks is that they can gain value over time. This can make them a powerful investment, especially when compared against other assets that depreciate or become entirely obsolete over time. A strong, well-known trademark will grow along with the startup assuming that it keeps up with the USPTO’s various renewal requirements.
5. Appealing to Buyers and Investors
Startups shouldn’t forget about some of the other ways that registered trademarks can add value to the company, either. For example, they’ll be included in the startup’s valuation, which can make the company more appealing to prospective buyers and lead to a higher purchase price during an acquisition. It’s also possible to sell or license trademarks to other businesses like any other asset, which can serve as an additional source of income.
Is your startup looking for help with registering trademarks with the State of Florida or the USPTO? Contact our Tampa and St. Pete offices now to schedule your consultation with one of our experienced and reliable intellectual property attorneys.