FinTech Marketing

I had two events recently that have shaped how I look at trademarks and why FinTech companies should care.  First, I heard about a company using an acronym of its longer name finds itself faced with a larger company announcing a new division with the same name. Secondly, I spent some time with Ms. Mary Margaret “Mo” Ogburn, a partner at Blanco Tackabery in Winston-Salem, N.C. discussing key concepts about what you can and cannot protect.  Both left me with a distinct impression that our industry does not do enough to protect our brands.

To understand what is protectable, you have to know what trademark is NOT, namely, copyright, patents and trade secrets, which are covered under different areas of the law. A trademark identifies the source of goods and services and distinguishes one source over another and signifies control over quality. Trademark law protects your investment in a brand, prevents competitors from getting a free ride at your expense and protects the buyers from confusion.

What does a trademark look like? They can include:

• Letters, example:  EXXON
• Numbers, example:  7-Eleven
• Abbreviations, example:  IBM
• Words, example:  Tide
• Taglines, example:  “you are in good hands…”
• Symbols, examples:  Nike’s swoosh or other distinctive logo
• Trade dress, example:  shape of Coke bottle
• Sound, example:  NBC chime

An important legal concept is that the mark is distinctive, not descriptive. “Super Glue” is not protectable because the name is descriptive of the product. Two concepts for developing company names are: 1) “arbitrary” use of common words, such as, Apple for computers and 2) “coined” words, such as, Google for search engine.

The bottom line is to consider protecting your company brands that have value and developing new company brands that can be protected.

To reach Mo, visit her profile (click here).

For new product, service or company names, call Jerry Goldstein at William Mills Agency at 678-781-7214 or by email at jerry@williammills.com

Share on Facebook