Building a business means that you have to cross every Ts and dot every Is. Anything you fail to put in place today may crash your business tomorrow.
In one of my previous posts, I explained the differences between a Business Name and a Brand name. After choosing your brand name, logo and registering your business name with the CAC, what next?
TRADEMARK! TRADEMARK! Go the extra mile by registering a trademark. A trademark is any word, phrase, logo or symbol used to differentiate your brand/business/product/service.
Whenever a business owner asks me, “I have been in business for a short time, why should I trademark my brand name and logo?”
My response is, “if another business registers your brand name and logo, will you be bothered?”
A brand name and logo are not by who started using it first. It is by who first trademarks it. Na who first trademark the brand name and logo, get am.
When you trademark your brand name and logo, you get an exclusive commercial right of ownership. No other business dares use a similar brand name or logo.
Most importantly, if your brand name is different from your registered business name, you need to protect your brand name against unauthorized use by third parties.
Amala Skye is a popular restaurant in Ibadan (although their signboard reads Ose Olorun Food Canteen). They got the suffix ‘Skye’ because it is located beside Skye Bank (now Polaris Bank) in Bodija, Ibadan.
Unfortunately, Amala Skye is just a registered business name, not a legal brand name.
The mistake they made was that they did not trademark ‘Amala Skye’ as their brand name. Now, e don happen. A Lekki restaurant has taken the name ‘Amala Skye.’
According to a search I conducted myself on the CAC website, the restaurant in Ibadan has its business name as “Amala Skye Lolo Restaurant” while the one in Lekki was incorporated as “Amala Skye Lagos Limited.”
No matter how much you label anyone of them as fake, the law only recognizes the one who has trademarked this brand name as the real, authentic Amala Skye.
What you do not know is that when you register your business name with the CAC, it only prevents other businesses from using a similar business name to yours.
It does NOT guarantee any legal protection of your brand name and logo from your competitors.
A lot of popular brands in Africa are not trademarked. After registering your business name, go and trademark your brand name and logo as soon as possible.
A trademark is the greatest property asset of every business. As much as possible, protect the intellectual assets of your business from your competitors.
If you care about your brand name or logo being stolen, you should care enough to protect it.
Big brands know how a trademark protects the reputation they have built over the years. A trademark is a mark of standard and quality.
If someone else maximizes this opportunity before you, even if the trademark they register sounds or looks similar to yours, it is over for you. C’est pon kanye.
As your business grows, your brand becomes more valuable. It does not matter how small your business is today, trademark your brand name and logo to avert legal issues in the future. Interestingly, trademarks no dey expire.