When the recession hit in 2007 women took the devastating period as an opportunity to provide for their families while following their passions. Along with increase in female business owners came an increase in registered trademarks owned by women. The National Women’s Business Council1 commissioned a study in 2012 concerning women business owners and intellectual property, which produced promising results.
According to the study, the number of women who successfully applied for trademark registration has doubled since 1980. While women once owned less than 17% of registered trademarks that number has increased to 33%. These entrepreneurs have overcome the obstacles that impeded other women from protecting their brands. Registration for female business owners is dominated in the fields of education, business/advertising, clothing, entertainment and miscellaneous science and technology.
The women who chose to register their trademark realized that having a registered trademark not only increased their business value but it also increased their business’s credibility.
So what is preventing other female entrepreneurs from registering their trademarks? The study shows that when it comes to trademark registration size matters. Many women owned businesses are small. The women who run them don’t have the capital to pursue trademark registration. Other entrepreneurs fail to protect their intellectual property because they find the process complicated and the law difficult to understand. Then there are those who do not understand the value in protecting their brand through federal trademark registration. Still, others do not understand the value in protecting their brand through federal trademark registration.
When you calculate registration and attorney fees, trademark registration can get expensive and it is equally true that the trademark process can be complicated. There are, however attorneys who are embracing alternative fee pricing which helps control costs for businesses strapped for cash. When you are choosing an attorney make sure that you find one that not only deals with the “legalese” of trademarks but is also interested in assisting you achieve your business’s mission and vision.
The truth is although women have come a long way in trademark registration there are still obstacles to overcome to ensure that all female business owners are able to protect their brands.
1 The National Women’s Business Council is a non-partisan federal government council created to serve as an independent source of advice and counsel to the President, Congress, and the U.S. Small Business Administration on economic issues of importance to women business owners. Members of the Council are prominent women business owners and representatives of women’s business organizations.
Off the Mark offers trademark, copyright and trade secret solutions for businesses and entrepreneurs. We keep unauthorized parties off your marks through federal trademark registration, copyright registration and contracts. Schedule Your Complimentary Consultation to learn how we can help your business.