Small Business Growth Program

TRADEMARK TUESDAYS [FREE SLIDE FOR YOU TO USE] It's TRADEMARK THURSDAY!!... Yesterday, I had a client who flew in from Phoenix to see me for a 60-minute consultation. She's the owner of a very busy legal marketing and branding company. She also has her own cosmetic line and hosts group events to sell her product on the side. In the past 12 months, she hosted 3-4 of these cosmetic "workshops" and generated over half a million in revenue. She flew in to see me because she noticed someone started another company with a similar name and branding. She was not sure what to do. She was worried if her brand may dilute in value or may even be sued by the other party. THE POINT: So - the point of this little story from last night is the importance of "asset identification". On the slide, you'll see I have "broken down" or "listed" about 15 different "ASSETS" you possess in your business RIGHT NOW AS WE SPEAK. Each and every single thing you create in your business CAN be monetized. If it has a commercial value, it should be identified as an asset, and maybe even "converted" into intellectual property. For example: Start from the first step. YOUR BUSINESS NAME. You name, logo, catch-phrase: Should you trademark it? Of course - do you want to PREVENT anyone in the US from using your business name, logo or anything similar to that? If it's a yes, then think trademark. A registered trademark. not . WHY? protects the mark in the entire country. If theres a dispute of two parties with similar names, vs ...one with a registered mark and one with a "common-law" (not registered but used in trade) - - usually win nationally. - gets a smaller geographic area where they can prove the consumer readily identifies them. (of course other factors do matter as well). So - a few hundred dollars to get your brand name registered CAN: (a) Increase the value of your business immediately (b) Give you a weapon to control competitors (c) Helps you brand yourself without second guessing (d) Increases your "brand reputation" that it's not a company that's going to close a month later after taking a payment (perceived) MONETIZE IT EVEN MORE... Maybe you are thinking of franchising or expanding or hiring "re-sellers". Your TRADEMARKED NAME can be licensed for a fee. Your TRADEMARK is worth value. It derives value. It increase net worth of your business. THAT is just ONE SINGLE item on this slide. Each "item" on this list can be TRANSFORMED into intellectual property and captured in contracts in this manner. (SORRY LONG POST) But hope it was helpful for today!! Curious - how many people have a TRADEMARK? - Sid

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