Why Your Company Needs a Well-Managed Trademark Portfolio
Trademarks are so important in building and protecting your brand. You can trademark anything that identifies your company as the source of your goods and services, like brand names, product names, course names, slogans, and logos.
A trademark portfolio is a collection of trademarks, so it would include anything thing from your brand name to your slogan. A strong trademark portfolio is a great business asset that also protects your brand.
Here’s Why Your Company Needs a Well-Managed Trademark Portfolio:
TRADEMARKS HELP YOUR COMPANY STAND OUT FROM THE CROWD.
Trademarks set businesses apart and help customers remember brands. Customers want to know the products and services they’re purchasing are genuine and authentic, and a strong trademark portfolio gives them that.
REGISTERED TRADEMARKS PREVENT COPYCATS.
Trademarks also provide strong legal protection against any copycats and allow you to sue them and recover money for using your hard-earned goodwill.
REGISTERED TRADEMARKS PROTECT YOUR BRAND.
With an up-to-date trademark portfolio, you can ensure that any new products or services your company develops are properly protected and can’t be copied by competitors.
TRADEMARKS CAN BE A SOURCE OF REVENUE.
You can license or sell your trademarks, which can be a great source of additional revenue for your company. Your trademarks also add value to your company, so if you ever decide to sell or merge with another company, a well-managed trademark portfolio will help you get the most bang for your buck.
Not sure where to start with your trademark portfolio?
We can help you register and manage your trademark portfolio, protect your brand, and come up with a plan to deal with and prevent costly litigation in the future. Book a call to discuss how we can best help your company.
How to Mitigate Legal Risk in Your Business
Mitigating legal risk in your company is one of the most important ways to safeguard your business.
The best way to mitigate these risks is to identify potential legal issues, take steps to prevent them from occurring, and have a plan in place to address them if they do.
That way, if any type of legal dispute comes up, you know exactly what to do and can contain the damage. This will save your company so much time, energy, and money.
Here are some of the ways you can mitigate legal risk in your company:
1. CONTRACT MANAGEMENT.
One of the most effective ways to mitigate legal risk is through good contract management. Make sure you have someone reviewing, drafting, and negotiating your contracts to make sure they’re fair, easy to understand, and comply with all relevant laws. Also, make sure someone is regularly reviewing and updating your existing contracts to keep them current.
2. UNDERSTANDING YOUR LEGAL OBLIGATIONS.
It’s also important to have a good understanding of the legal responsibilities of your business so you can make sure you’re compliant with all relevant laws. Any time you do something new in your business, you should be consulting with an attorney to make sure you’re doing everything you need to do legally to protect your company.
3. INTELLECTUAL PROPERTY.
Another important step in mitigating legal risks is protecting your company's intellectual property. This includes registering your trademarks for your company's name, logos, and products, as well as taking steps to prevent others from using them without permission.
It also includes making sure you register your copyrights and that you have a plan in place for addressing any infringement claims that could come up. Your intellectual property can also be a great asset and source of additional income for your company.
4. PLAN FOR DEALING WITH DISPUTES.
You also need to have a plan for addressing any legal disputes. This may include working with an experienced attorney to develop a strategy for resolving disputes, as well as determining if there are any proper alternative dispute resolution methods you can use, like mediation and arbitration, which are usually more cost-effective and less time-consuming than going to court.
5. INSURANCE COVERAGE.
Good insurance coverage is also a must for mitigating your business' risk. Generally, good business insurance will help reduce the burden of legal disputes by paying for certain attorneys’ fees, costs, and judgments, and it will provide you with defense counsel for covered losses.
These are just a few of the ways you can mitigate legal risk in your company. An experienced attorney can help you develop a risk mitigation plan that works best for your company.
How to Write a Copyright Notice
Wondering whether you need a copyright notice and if so, where to put it...? No need to fret. We got you covered.
Quick refresher: a “copyright” is the original creator of a work’s exclusive right to reproduce and distribute that work.
For purposes of copyright protection, a “work” can be a photo, article, drawing, painting, course, book, music, video, software, advertising, map, choreography, or other type of creative work.
If you are the original creator of the work, you will automatically have copyright protection as soon as you publish it or put it out into the world for others to see.
Although copyright notices are not generally required to protect your copyrighted work, copyright notices put others on notice of your rights to your work.
We recommend that you put copyright notices on or near your work no matter what. That way, you’ll have more proof that others are on notice that they can distribute your work without proper credit and permission.
So…how do you do it?! It’s not difficult, just follow the below formula:
© + Year Work Created + Your Name or Business Name. + All Rights Reserved.
Example:
© 2021 Iluma Law Firm, PLLC. All Rights Reserved.
Here are a few examples of where to place your copyright notices:
In the footer of your website.
At the end of an article you wrote.
At the beginning of a book you wrote.
In the description or credits of a video you created.
On each page of any worksheets or content you created.
In the footer of any emails you send out to your email list.
Have questions about trademarks and copyrights? We have answers!
Disclaimer: This information is provided for general information purposes only and should not be construed as legal advice with respect to any matter. This information is not intended to be an exhaustive list of the topics discussed. It does not create an attorney-client relationship and should not be used as a substitute for legal advice in any specific situation.
© 2021 Iluma Law Firm, PLLC. All rights reserved.
3 Reasons You Should Register Your Copyright
Copyrights protect your exclusive right to distribute your “work.”
For purposes of copyright protection, a “work” can be a photograph, article, drawing, book, music, artistic work, video or film, software, map, choreography, etc.
Although merely creating a work will entitle you to copyright protection, registering your copyright provides more protection for your creative work, including:
Evidence and record of ownership.
Registering your copyright is evidence you own it and your copyright is valid.
Allows you to sue for copyright infringement.
You can only file a lawsuit for copyright infringement against someone who is distributing or using it without permission if you have registered your copyright.
Allows you to recover statutory damages and attorneys’ fees.
Once you’ve registered your copyright, you can sue the infringing party for statutory damages and attorneys’ fees.
Trying to get your legal in place but want some guidance along the way? We conduct full legal audits for companies. Book your free consult today to discuss your options.
Disclaimer: This information is provided for general information purposes only and should not be construed as legal advice with respect to any matter. This information is not intended to be an exhaustive list of the topics discussed. It does not create an attorney-client relationship and should not be used as a substitute for legal advice in any specific situation.
© 2021 Iluma Law Firm, PLLC. All rights reserved.
5 Things You Need to Do Today to Start Getting Legal Off Your List
Thinking about legal for your company can be a headache, and the thought of all the things you need to do legally can be paralyzing. However, you must have basic legal protections in place to protect your business and brand. The sooner you do this, the more protection your company will have.
So…I’ve compiled a list of the five things you can start doing today to get a jump on getting your legal done:
Make sure you have the proper business entity.
Weigh the pros and cons of each type of business entity and determine which one is right for you. Once you’ve done that, register that business entity with your state, and don’t forget, you will need an operating agreement (if you register an LLC or partnership), and bylaws (if you register a corporation).
Make sure you have a client contract that’s clear, easy to understand, and specific.
You should specifically spell out the work to be performed or goods to be provided in the contract and state that any additional goods or services are not included and will need to be agreed upon in another contract. You also need specific payment, cancellation, and refund terms.
Start coming up with a strategy for your intellectual property.
Put copyright notices on your content. Consider trademarking your brand name, course name, or any other elements that identify your business or products.
Make sure you have the proper website disclosures.
If you collect data from visitors on your website, you need a GDPR compliant privacy policy and a cookies banner that explain your data collection practices and cookie usage.
Get business insurance.
Depending on your coverage and limits, your business insurance will generally pay for any damages you have to pay in a lawsuit, and it will pay for your attorneys’ fees.
Trying to get your legal in place but want more legal guidance along the way? We conduct full legal audits for companies. Book a free consult today to discuss your options.
Disclaimer: This information is provided for general information purposes only and should not be construed as legal advice with respect to any matter. This information is not intended to be an exhaustive list of the topics discussed. It does not create an attorney-client relationship and should not be used as a substitute for legal advice in any specific situation.
© 2021 Iluma Law Firm, PLLC. All rights reserved.