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Consider a trademark

July 31, 2013

Trademarks are commonplace in the world of big business but small businesses are notoriously lacking in effective protection. That’s a shame because, as Kenneth Port, a professor of law at William Mitchell College of Law, says, a trademark is one of your “most valuable assets.”


What exactly is a trademark? It’s any word or symbol that identifies the source of a good or service. It’s how you ID your brand and keep imposters away. The ® symbol is commonly used and is the type of trademark that offers the most federal protection.


There are companies that offer trademark protection, meaning that they will watch over your trademark to make sure no one infringes upon it. The service typically costs a couple hundred dollars a year per trademark. If you would like to do it on your own, periodically search the Internet for your trademark. Take legal action in the form of a cease and desist letter if you find someone using your trademark. If necessary, act upon the warnings in your letter.


The law considers trademark infringement to be legitimate if something is using something “confusingly similar” to your trademark. However, it can be expensive to go to court to defend yourself. Evaluate your brand and how valuable a trademark would be or is to you.


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Forecasting for Growth: Strategic Thinking

July 28, 2013

In order for your business to be a success and maintain momentum in the future, you must look into and plan for the future, while still remaining focused on the present. Forecasting and good planning are necessary for the long-term success of your business.

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