Product names, like all trademarks, represent brands. They help customers find the products that they like and distinguish them from the competition. After all, your product name is how most customers will identify and remember your products. That’s why trademarking a name, including trademarking a product name, is so important and why you want to ensure that your product name is protected.

Top Six Reasons to Trademark a Product Name

Trademarking is a powerful tool to stop unauthorized use of your product name by copycats. Here are the top six reasons why:

1. Exclusivity. Trademarking your product name gives you the exclusive right to use it. Typically, only one business can use a product name in an industry, and it is usually the one that trademarks the product name first.

2. Legal Ownership. When you trademark a product name, no one else in your industry can register it, take it from you, and force you to rebrand. Here again, typically only one business can own a product name in an industry, and it is usually the one that trademarks the product name first.

3. Distinctiveness. A trademark for the name of your product helps distinguish your product from others on the market, which means that buyer loyalty for your high-quality product flows to you.

4. Cost-Savings over time. Trademarking your product name comes with important legal rights and presumptions that make enforcing your ownership rights less expensive if someone else tries to use your product name without permission.

5. Deterrence. When you trademark your product name, you can use the ® symbol with it. This can deter would-be copycats from trying to use your product name and can help you enforce your rights if someone uses your product name without permission.

6. Value. Having a registered trademark for your product name can also make it easier to sell or license it because potential buyers or licensees will know that they can use the name without the risk of infringing on someone else’s rights.

These are important advantages that can help a forward-thinking business. 

Top Four Risks of Not Trademarking A Product Name

Choosing not to trademark a unique product name can have serious consequences. Here are the top four risks you face when you don’t trademark your product name.

1. Risk of a rebrand. If someone else trademarks your product name first, they’ll own the exclusive right to use it nationally. You’ll likely have to rebrand.

2. No exclusivity. Other businesses may use your product name and you won’t be able to stop them.  As a result, imitators can benefit from your product’s goodwill, and you name may become worthless if too many companies use your name.  

3. Lost sales due to confusion. Your business could suffer from a loss of revenue if customers confuse your product with one sold under a similar same.

4. Higher costs in the long run. You will likely have to spend more on monitoring and enforcing your product name trademark if it is not registered.

These are just some of the risks that you avoid when you trademark a product name.