In the so-called crypto and Blockchain world, many new companies and projects are emerging at present. Given the importance of Bitcoin, some of them could be really big one day, which is why trademark protection is already relevant for these players today.
Philosophically, the issue around intellectual property and trademark protection is controversial. Practically, both are established in today's business world, and are of high importance. From a pragmatic perspective, trademark protection should therefore also be a top priority for start-ups in the Blockchain sector. However, particularly in the start-up phase of emerging companies, people often forget to protect and register the company name, a logo, or their own products and/or service names as a trademark.
For entrepreneur and inventor Peter Schöb, trademark protection is of great importance.
"As a company, you invest a lot of money and time in building and maintaining a brand, which can often become a company's most valuable asset." - Peter Schöb
With his company Schöb Innovation from St.Gallen, the trained engineer has, among other areas, also focused on the protection of intellectual property. As a proven trademark specialist and trademark consultant registered with the Institute of Intellectual Property (IGE), he and his team have already helped many companies worldwide to register and thus protect their trademarks.
Merging Company Name and Trademark
The name, image and reputation of companies is represented by their trademark. It is not uncommon for company names and trademarks to virtually merge. Apple, Google, Coca-Cola, Lego or NutriBullet come to mind. The latter name describes a stand mixer, but many people simply use the term "NutriBullet" for it.
A brand can thus gain immense significance. Ultimately, this can go so far that it even establishes itself as a proxy for a general term. Therefore, in the business world, there is widespread agreement that a brand, as perhaps the most valuable asset of a company, must be able to be protected. And this is especially true in our current economy, which is digitally networked and therefore highly competitive.
Software, for example, is currently devouring the world and marginal costs are falling ever closer to zero. Monetary policy measures mean that financial liquidity is available "en masse." As a result, these factors lead to an exponential growth of projects, startups, companies and thus brands.
But What Is A Brand?
In order to draw attention to themselves, their products and their services in the market, companies give themselves, their products and services a name. These designations act as a means of identification and help to differentiate themselves from other competitors. As Peter Schöb explains, a trademark in the legal sense is a protected identifier with which a company can distinguish, differentiate and protect its goods, its services and ultimately its idea, innovation and enterprise from other companies.
At the origin of every company are goods or services. By highlighting the benefits, goods and services must be brought to the customer. This is where marketing comes into play. As a company, you invest a lot of money and time in building and maintaining your brand. The company is a decisive recognition and profiling feature and, to a certain extent, acts as a figurehead for goods and services.
In principle, all graphically representable signs can be trademarks. For example:
- Words (e.g. Apple)
- Combinations of letters (e.g. SBB)
- Number combinations (e.g. 4711)
- Pictorial representations (e.g. the Nike logo)
- Three-dimensional shapes (e.g. the Mercedes star)
- Slogans (e.g. "Ford, feel the difference.")
- Combinations of these elements
- An acoustic trademark consisting of sound sequences (e.g. the Ricola melody)
Why Trademark Protection, and With What Concrete Benefit?
An officially registered trademark provides the necessary protection. Trademark protection gives the owner the exclusive right to use his trademark to identify his goods or services and thus to create recognition for his goods or services on the market. This right can be passed on (e.g. licenses) or sold. Most importantly, the trademark owner can prohibit third parties from using an identical or similar sign for the same or similar goods or services in the market. Anyone who has officially registered his trademark can assert this right against third parties before judges.
As Schöb points out, by registering its trademark, an entrepreneur or organization protects its own products or services or company or organization name not only from free riders, but also from unfortunate coincidences. Thus, as the expert describes, a trademark dispute may not only result from a third party wanting to willfully cause damage to one's own company. It is also conceivable that a third party has already applied for or is applying for an identical or similar trademark for an identical or similar idea without malicious intent. If this is the case, it could unfortunately lead to complications for the organization that has not applied for and protected its trademark.
Schöb recommends filing one's trademark in a timely manner, if possible.
"Optimally, the trademark would be registered even before the service or product has been offered on the market or the trademark has been made known to the market, the public and competitors." - Peter Schöb
Trademark Protection, but How?
As previously mentioned, a trademark must be applied for and registered with an official office. The protection period is ten years from the date of filing of the trademark and can be extended as often as desired for another ten years. In order to register the trademark correctly, it makes sense to entrust the application to an experienced trademark consultant and, if necessary, to obtain good advice and information from a trademark specialist (e.g. patent attorney or lawyer) beforehand, says Schöb.
As he recommends, before a trademark is registered, a search should be made in advance. This is because the official authority does not check whether a trademark has already been registered in an identical or similar form. To avoid trademark collisions and court proceedings, a search for identical or similar trademarks that could conflict with one's own sign is highly recommended.
