Last week, we discussed the benefits of federally registering your trademarks. But having a few federal registrations under your belt doesn’t mean your task of building a valuable trademark portfolio is complete. There are several additional steps you can take to make sure you are managing your trademarks wisely and getting the most value from them.
As we discussed last week, federal registration gives you many benefits and it is the most cost-effective way to protect your brand. Once you have those registrations in hand, however, it is important to periodically take stock in what you own and what you are (or are no longer) using. This can help you identify (1) new brands that can be exploited, potentially opening up new lines of licensing revenue, (2) vulnerabilities in your current trademark practices that could expose you to the risk of litigation, and (3) cost savings by identifying marks that are no longer in use and discontinuing their maintenance and enforcement. Proactively maintaining your trademark portfolio can also help you avoid surprises. Imagine discovering that an important trademark registration has lapsed only through the due diligence being conducted by a potential buyer of your station or station group. Not only is that an embarrassing position to be in, but it could compromise your valuation and your negotiating power.
Continue Reading Trademark Basics Part 4: Trademark Housekeeping 101 – Conducting a Trademark Audit