What is Trademark Goodwill in Missouri?

trademark goodwill missouri

In order for you and your business to succeed, you must properly understand and legally protect your most critical assets, including your trademark. In that case, you should understand the nature of trademark goodwill. A trademark’s goodwill relates to your trademark’s inherent value, i.e. the recognition of your mark among consumers and the additional earning power it generates. For more information on trademark goodwill, please continue reading, then contact an experienced Missouri trademark litigation lawyer. Some questions you may have include:

What constitutes a trademark in Missouri?

A trademark is a symbol, word or words legally registered or established by use as representing a company or product. In plainer terms, a trademark is your business’s identity, possibly comprised of:

  • Just the business name itself
  • A logo, or
  • A “combined mark” that includes both your business name and logo

How do you protect a trademark in Missouri?

In a process known as “common law trademark,” you begin to acquire legal rights in and to your mark the moment you start using a business name or logo in connection with your business. Nonetheless, you need to exercise caution because if a competitor has already adopted and utilized the same business name or has subjected it to federal trademark registration, you may be infringing on the mark of another. Therefore, you should exercise due diligence by doing some research on your own or with a skilled Missouri trademark attorney before you adopt a trade name or trademark. You must obtain trademark registration with the United States Patent and Trademarks Office to truly protect your trademark.

What is trademark goodwill?

At its most fundamental level, trademark goodwill represents the recognition that your mark has with your customers, particularly its ability to encourage them to want to buy from you just because they recognize your name and brand. Trademark goodwill often comes into play when entities buy or sell a business. Specifically, these entities measure the difference between the business’s purchase price and the value of the business’s tangible assets.

How does a Missouri business owner protect the goodwill of their trademark?

In order to protect the value of your trademarks and their associated goodwill, you must ensure that:

  • You have obtained registration of your trademarks with the United States Patents and Trademarks Office, and
  • Third parties are not using your trademarks or marks which are so similar they may confuse consumers

If you uncover evidence of third-party use and infringement, you must speak with a highly qualified trademark litigation lawyer who will send a cease and desist notice and, if necessary, commence a lawsuit for trademark infringement.

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