A trademark takes extensive research and days of hard work to be created; slight negligence and your well-established trademark and brand’s reputation may fall prey to infringement. In this age of intense competition, it’s essential to invest in trademark monitoring to protect your brand’s hard-earned identity.
Employing trademark monitoring, you can proactively watch various platforms to identify and mitigate potential threats and protect your intellectual property (IP) from malicious practices.
What Is Trademark Monitoring?
Trademark monitoring is an effective technique that helps you identify and react to trademark applications made by competitors that may infringe on your IP rights.
The monitoring may involve scanning social media platforms, search engines, and the United States Patent and Trademark Office (USPTO) database to identify the unauthorized use of your protected trademark.
Why Do You Need A Trademark Monitoring Service?
According to research conducted by a cyber security firm, 4 out of every 5 businesses face copyright theft and counterfeiting on the internet. Hence, no matter the size of your company, you need early trademark monitoring to avoid costly lawsuits. Here are some of the cases you require the service for:
1. When New Trademark Applications are Submitted
Applying for a trademark and getting IP protected doesn’t mean your brand is fully secured and defended by authorities. You still need to check on competitors and similar businesses so that scammers don’t capitalize on your well-established and profiting trademark.
2. To Analyze Potential Threats of Imitations
In the age of ever-increasing competition, you must utilize trademark monitoring services, especially when you manage an extensive portfolio. If you don’t have a dedicated mechanism that proactively oversees the infringement thefts, you are more likely to get abused by infringers and imitators.
How does Trademark Monitoring Work?
Hers is the complete process of trademark monitoring:
- Identify the Scope: Begin with the scope of monitoring to determine the class of trademark and where the search will be conducted.
- Select Your Tools: Google Ads, Keyword Planner, Trademark Electronic Search System, Amazon Search, and social networking platforms are a few of the tools you may select to conduct online trademark monitoring.
- Conduct Thorough Monitoring: Once the tools are set, conduct thorough research, monitoring, and analysis to detect possible theft and improper use of your intellectual property.
- Ensure Proper Use: If you own a big brand, you must ensure all your affiliates properly use your brand name/ logo and other IP elements. In case improper use is noticed, instruct and educate officials on proper use.
- Take Action Against Infringements: Once trademark infringements are detected, the reports are sent to trademark owners so that they can take necessary legal action against the unauthorized use of IP.
What are The Consequences of Not Having a Trademark Monitoring Plan?
Undermining the need for trademark monitoring may cause you irreplaceable damage. Here are a few substantial risks that can be caused due to the absence of the service.
Compromised Brand Uniqueness: Making your brand unique takes years of struggle. Once your brand has established a reputation and uniqueness, you must reserve the image. Without a dedicated national or international trademark monitoring service, your brand is vulnerable to the constant risk of thefts, due to which your brand persona suffers big time.
Rampant Misuse of Trademarks: Scammers misuse your trademarks in the absence of trademark monitoring. The overuse makes it challenging to conduct the check and overcome the loss later. Worst, you may lose your trademark rights if things get out of hand.
Reduced Brand Value: Inappropriate use of trademarks causes confusion and negatively affects the audience’s perception of the brand. This confusion leads to reduced interaction and eventually deteriorates the brand value. Consequently, your investors and other stakeholders lack interest in any agreements with your brand.
What are The Benefits of Trademark Monitoring Services?
Stops Trademark Dilution
When a trademark is used without the owner’s authorization, it causes trademark dilution and affects the brand’s novelty. Trademark dilution happens in multiple forms, making tracking and mitigation even more difficult. Therefore, you must regularly monitor your trademark to keep a constant check, prevent trademark dilution, and maintain brand value.
Protects Brand Reputation and Customer Trust
Your trademark is your brand identifier; thus, if your trademark is at stake, the whole brand reputation is at stake. Timely IP protection measures ensure that affiliates use your brand marks correctly.
It also ensures that no one abuses or imitates your logo, brand name, or other brand elements. All these measures help protect your brand value and maintain customer trust in the long run.
Eliminates Trademark Infringement
The thorough searches across online platforms, advertisement content, and other official databases reduce the risk of trademark infringements. In this technological age, you need to act smartly and take timely action; else, it takes no time for matters to go uncontrollable.
Constant searching using modern tools helps you detect and address potential thefts earlier, saving you from financial hits and other legal disputes.
Competitive Advantage in the Marketplace
Trademark monitoring protects you from the dangers of thefts and scams and gives you an edge over the competition. Active trademark watching keeps you updated about how your competitors use their trademarks, branding strategies, and many more new developments.
All these insights may be helpful for you to acquire the untapped market and a new customer base for your business.
Mitigation of Financial Losses and Legal Risks
By staying vigilant, you can halt unauthorized use of trademarks and, at the same time, reduce the risk of legal action against you for accidentally infringing someone else’s trademark. Early detection of potential infringement and imitation saves you money, resources, and precious time.
Hence, trademark monitoring services minimize the risk of significant financial losses, legal disputes, hefty trial fees, and business losses.
How to Implement an Effective Trademark Monitoring Strategy?
Practical and proactive trademark monitoring depends on your trademark monitoring strategy’s strength and its careful implementation. Make sure you conduct thorough research before beginning the process to identify the sources you need to search for and then choose the tools that best suit your needs.
Next, establish your processes by assigning tasks to the team and reviewing the results proactively. Once the infringement is detected, promptly file a complaint or send a cease and desist letter.
An effective strategy is not limited to identification, detection, and filing only, but it also involves constant adjustment and improvement of the plan as per the need of time. It may include adding new monitoring sources, exploring newly introduced tools, and refining existing systems.
Trademark monitoring used to be quite expensive; however, modern technology has made it cost-effective and more efficient than before. Hence, there is no excuse for you to skip something as crucial as trademark monitoring and put your brand identity and reputation on the line.
Remember, the earlier you invest in trademark monitoring, your intellectual property and brand will be safer.