Twenty West is thrilled to announce that it has formed a new partnership with Trademark Depot– a leading trademarking company. Needless to say, this is an exciting time, full of learning and growth (and not just for these two powerful companies). It’s an exciting time for their clients, too!
It seems that having a trademark is an important part of any brand or business. But, what is trademarking? And, why is trademarking your brand, your business, and/or your name, important?
What is a Trademark?
When we think of trademarking, a certain company’s logo or motto may instantly pop to mind. This in itself is the prime example of why trademarking is important. It helps a brand stand out from the others. According to Oxford Languages, a trademark is a “symbol, word, or words legally registered or established by use as representing a company or product”.
For example, the moment we see golden arches, or hear “I’m lovin’ it”, what do we think of? That’s right- McDonald’s! Other popular and valuable trademarks include those of Google, Apple and Amazon. We are surrounded by trademarks everywhere we turn, we just don’t always actively think about it.
Why is Trademarking Important?
“The single largest source of intangible value in a company is its trademark […]”
– David Haigh, Founder of Brand Finance
Seeing as trademarking is surviving the test of time, it’s a clear indication that it is important for any business. With this being said, what are the advantages of having a trademark? Some benefits of trademarking a business include*:
- The right to Exclusive Use of the Trademark in Canada
- Exemption from the Charter of the French Language
- A valid registered trademark has equity. It becomes an asset of the trademark owner’s business.
- Due to it being such an asset, it can be sold or transfered in return for money.
- By registering a trademark, it ensures that it is different from any other already existing company trademark
- Being able to use ® for a company adds a certain amount of prestige/credibility.
*It’s important to note that there are differences between filing in the United States and Canada. More information on these differences can be read here.
What about an LLC?
People tend to believe that a trademark and an LLC (Limited Liability Company) are the same thing. This is not the case. LLCs are a legal way to protect the personal assets of business owners from lawsuits and bankruptcies. Whereas, trademarks protect the intellectual property of the business itself.
LLCs also don’t exist in Canada. However, according to Canada Buzz, it’s possible for LLCs to expand from the US into Canada by registering under Provincial Corporation laws. These laws vary depending on the province; it would be up to the individual company to assess whether or not the work would be worth the reward.
It’s easy to see, that if trademarking hasn’t been looked into yet, it should be a priority for any company. The peace of mind it of mind it offers alone would make it well worth the time and effort. It is a huge business step, and it’s important to speak to a professional if there are any questions or concerns.
Twenty West’s venture with Trademark Depot isn’t the only partnership that they are proud of.
Over the years, Twenty West has worked with amazing companies and brands. We all know that technology is advancing on a daily basis- from the metaverse to AI technology. Part of Twenty West’s mission is to stay up to date on the latest and greatest technology so that their clients don’t have to.If anyone has any questions about trademarking, or how the Twenty West team can help your business, they are just a phone call (888) 316-6549, or a click away.