Barista Magazine

OCT-NOV 2013

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ILLUSTRATION BY ELEANOR DAVIS D o a tra d em ar k se a r c h . A good place to start is the U.S. Patent and Trademark Office: www.uspto.gov/ trademarks. Not every business name needs to be trademarked, as long as your state government gives you the go-ahead and you aren't infringing on anyone else's trade name. But be sure your new name doesn't encroach on another business's trademark; even the two names are just similar, it could have expensive legal consequences. You may want to apply for trademark protection yourself to secure the words, names, symbols, and logos that distinguish your goods and services. Your name is one of your most valuable business assets, so it's worth protecting. You can file for a trademark for under $300. A re the doma i n n a me s a n d so c ia lm edia ha n dl e s a v a il a b le ? Search beyond the local options (through GoDaddy, Network Solutions or another Web-hosting service), especially if your business lends itself to expansion into overseas markets. Consider purchasing URLs for .au, .ca, etc., even if they don't feature in your initial plans. If .com or .net are taken, consider .us, which is becoming more commonly used. Before securing the domain, also look into the likely social-media platforms you may use. Is your name available on Facebook, Twitter, Instagram, etc.? If it is (or some similar abbreviated form of your name), secure those, too. Incor po ra t e o r r e g is te r ? If you intend to incorporate your business, you'll need to contact your state filing office to find out whether your intended business name has already been claimed and is in use. If you find a business operating under your proposed name, you may still be able to use it, provided your business and the existing business offer different goods/services or are located in different regions. Registering your business name involves a process known as submitting a "Doing Business As (DBA)" name or trade name. This process is different from incorporation and doesn't provide trademark protection. Registering your DBA name is simply the process of letting your state government know that you are doing business as something other than your personal name or the legal name of your partnership or corporation. Your name is one of your most valuable business assets, so it's worth protecting. You can file for a trademark for under $300. W h a t if y ou wa nt t o c ha ng e you r e xi st in g co mp an y's n am e? Some of the best businesses have changed their names when a better idea came along. (Xerox used to be called the Halloid Company; Nissan was Datsun; and LG shortened its name from Lucky and GoldStar Co.) Don't change your business name simply because the current one bores you. If you come up with a killer new name, sit on it for a few weeks to see if it maintains its appeal. Given enough time, you may realize that it's not worth the costly, disruptive process involving checking existing trademarks, domain names, filing a new DBA, revising all marketing materials (signage, menus, logo, business cards, etc.), business licenses, contracts, lease documents, bank accounts and permits, and notifying the IRS. Also, mar- keting experts recommend that any business changing its name maintain two websites for at least several months so that customers going to the old site can be redirected. A name change can work if your company still has low brand equity—that is, the estimated monetary value added to your brand because people know who you are. On the other hand, if your local brand equity has grown greatly, a name change could end up costing more than it's worth. Realize that you will encounter some initial resistance from some customers and staff that have grown accustomed to your existing identity and may not understand your longterm strategy. Remain positive and upbeat and demonstrate a sense of leadership. In a matter of a few short months, your old company name will seem like a distant memory. www.baristamagazine.com 79

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