Earlier this year, I had a chance to chat with Samantha Bradshaw, a small business and IP lawyer, about how to pick a name for your business.  If you missed that episode, you can find it here.

This is a continuation of that conversation where we focus on whether you should invest in a trademark for your business.   Samantha shared a few things to consider as you weigh the pros and cons.

Consider Your Business Goals:  If you plan to expand your business, work in it long-term, or pass it on to others, trademarking can solidify your reputation and become a valuable asset when selling the business or protecting your brand. On the other hand, if this is a lifestyle business or you don’t expect to grow beyond you local community, you may not need a trademark.

Understand Your Risk Level:  The purpose of a trademark is to protect what you are building.  For a small local business, such as with a single-location restaurant, your risk level may be lower and trademarking may not be necessary. You will still want to run a clearance search to check for potential conflicts with other businesses or brands using a similar name.

Benefits of Trademarking: Trademarking protects against copycats and helps distinguish your brand from others. It also facilitates licensing opportunities and enables smoother expansion, such as opening new locations or entering other markets.