Tag: Service Marks

Selling Your Business Patent

Looking back on every business you went into over the past week to complete errands or make purchases, consider that each one of them (even the franchises!) sprang originally from a dream, an idea, a concept in someone’s mind that could eventually turn into an invention requiring a business patent. Coupled with drive and determination, that idea turned into a real product or service, situated at a real business site—with all the real responsibilities of bringing in clients, maintaining capital, managing employees, and more.

And while you are probably a customer at many other businesses on a regular basis, you may also be an entrepreneur running a company of your own where it is so easy to get caught up in the daily grind that you forget what the original inspiration or motivation was to begin with. Staying fresh and continuing to innovate is vital to any business though, and while you may have trademarks or service marks already in place—perhaps even copyrights—you, your employees, or independent contractors may also be continuing to create intellectual property like patents.

A patent is defined by the United States Patent and Trademark Office as an invention which can be divided into three categories: utility, design, or plant (and yes, that literally refers to the discovery or creation of a new plant). Once you have registered for a patent—and it is highly recommended that you work with an intellectual property attorney in doing so—you may have a bit of a wait, anywhere from a matter of months to almost two years on average, and very possibly even longer. A patent is usually good for around 20 years and means that you have the sole rights to manufacturing and distribution.

In some cases, you may have a patent that you want to sell—or you may want to grant licensing rights. While selling it is a great way to make income that could perhaps fund another invention, it is permanent. Speak to your attorney about the best route for your business, along with the legalities of selling it, along with considering whether your better option would be to sell licensing and perhaps collect royalties. Working with another entity for licensing can be tricky so do not go it alone when negotiating agreements and drafting contracts.

The Bolender Law Firm can assist you in all intellectual property matters. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

Intellectual property

Intellectual Property: Protect That Trademark

Many find the subject of intellectual property to be both complex and intimidating—and sometimes so much so that valuable business innovations go unprotected. Think of all that you protect when it comes to your company, whether you are just starting up or have been in operation for years. From protecting your company’s image and reputation within the industry you are involved in, to ensuring the security and safety of employees, real estate, and physical contents of your office or warehouse, there are many details to tend to—not to mention the actual running of your business. Accountants help ensure your financial health while your insurance company should see to it that you have all the correct coverages should a claim arise later.

A skilled business attorney from a firm like Bolender Law Firm can assist with many legal aspects of your business, from drawing up contracts to assisting in acquisitions, or providing representation in the unfortunate case of a lawsuit. When it comes to protecting your brand, however, this is another area where knowledgeable legal advice is necessary. Your attorney can help you pinpoint what type of intellectual property you really have and then move forward to discuss the different types of licenses and registration required.

The trademark is key to many businesses today, and there are some famous ones for sure—as in clothing logos, restaurants logos, and so much more. It may also be a word, or a phrase tied to a company and the goods they provide. The trademark also encompasses the service mark which is often a slogan designed to remind consumers of the services a business provides to the public. The trademark is yours by common law as soon as you design it and begin using it. And while you may own a small business now and foresee no threat of anyone stealing your trademark or any other intellectual property, by registering with the United States Patent and Trademark Office, you have formal ownership for ten years, with the opportunity to keep renewing it. This formal registration allows you to take legal action should someone try to use your trademark without permission, and it also puts you on solid ground for selling it later or granting use of temporarily.

The Bolender Law Firm can assist you in all intellectual property matters. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

service marks

Service Marks: Does Your Brand Need One?

For so many business owners in the US, a company blooms based on a dream, a concept, and an eventual innovative product that can be manufactured or a unique service that can be offered to the public. The marketplace is competitive for nearly anyone today, and creating a business that will succeed takes savvy, ingenuity, and the willingness to put in many hours. Along with your vision, mission, and business strategy comes a need for protection too. This may come in the form of security at your new business, insurance policies, and a variety of different legal measures such as partnership contracts, independent contractor agreements, and more.

The Service Mark is a Type of Trademark

Protecting your intellectual property may be much more of a concern than you realize too. While you may be familiar with terms such as copyrights, patents, and trademarks, you may be less familiar with the service mark. This is intellectual property that falls within the trademark category, but rather than offering a logo or symbol, the service mark denotes what it is you offer to the public. This might be in the form of a slogan, for example, or as the U.S. Patent and Trademark Office (USPTO) states, something that will “identify services, that is, intangible activities, which are performed by one person for the benefit of a person or persons other than himself, either for pay or otherwise.”

Protect Your Intellectual Property Through the USPTO

A trademark or service mark is yours once you begin using it (make sure when you create yours that no one else has registered one), but without registering it through the USPTO you would not be able to take legal action against another party if they used it without your permission. There may be times however, that another entity may purchase your service mark or have rights to use it—most especially if you sell them your business and transfer your intellectual property to them.

Protection of marks, copyrights, and patents is critical to any business, along with taking measures to make sure employees and independent contractors are aware that they belong to your company and are not to be ‘taken’ once they stop working for you, whether in quitting their jobs or finishing a contract. Employees currently working for you should also clearly understand confidentiality requirements which may be outlined in a non-disclosure agreement.

Contact Us for Help

The Bolender Law Firm can assist you in all intellectual property matters. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!