How Do I Protect My Business Name?

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If you use a name for your business other than your personal name, you want to register the name in the state or states where you do business so that other businesses can't use your name. Going through the  registration process also keeps you from using a business name that someone else already uses.  In Ohio and some states, registration of a trade name is done with the Secretary of State’s office.  In other states, the registration is done at the county level.

A corporation does not have to separately register its name in the state where the corporation is incorporated.  The same is true for an LLC.  But a corporation or an LLC should register its trade name in other states where it does business.  Sole proprietorships and partnerships are not incorporated anywhere, so generally the owners of a sole proprietorship or a partnership will want to register their business name everywhere they do business.

Before you select a name for your product or business, you should conduct a name search.  You should do an internet search on Google and Yahoo, and a search with the state registries where you intend to do business now or in the future.  You should also do a search of the federal register of trade and service marks at www.uspto.gov.  There is a cost involved in doing these state and federal registrations.  But it can be far more costly in terms of time, money and lost opportunity if you have to change the name of your business or product because you used someone else's name.

If you are using a trademark, be sure to state on your packaging and advertising materials that you own the mark.  If you have federally registered the mark, use an “R” with a circle around it to indicate this.  If you have registered the mark with the state or not at all, use the letters “TM” for trademark or “SM” for service mark to indicate your ownership of the mark.  And make sure you enforce your rights by notifying other businesses in writing if they improperly use or infringe on your mark.

A state trademark registration can be done in a few weeks and creates a presumption of use throughout the state.  The state registration may also entitle you to attorney fees upon infringement.  A federal registration can take 18 months or more, but results in a presumption of use throughout the US.  A Federal registration can give the owner the right to collect statutory damages and attorney fees.

Your business name can be the most valuable asset you business owns.  Protect it.  If you are interested in finding out how to register or otherwise protect your tradename or trademark, give me a call.

AND ONE MORE THING.   We all face the prospect of a darker tax climate in 2013 for investment income and gains. Under current law, higher-income taxpayers face a 3.8% surtax on their investment income and gains under changes made by the Affordable  Care Act.  In addition, if the "Bush tax cuts" are allowed to lapse, all taxpayers will face higher taxes on investment income and gains, and the vast majority of taxpayers also will face higher rates on their ordinary income. If you have any questions about how the Affordable Care Act or your personal tax planning give me a call.   Jsenney@pselaw.com or 937-223-1130.