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This business coaching lesson discusses what legal steps are needed when protecting the brand.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Phantasmagoria: A real sequence of real or imaginary images like those seen in a dream.
  • Lesson Nugget: Do the research on trademarks to see if your idea is already in use.
  • Lesson Nugget: If you don't get proper legal registration, someone can create a copy of your product and sell it for their own profit.
  • Action Steps: 1. Do some research up front to see if you can use the brand that you created.
  • Action Steps: 2. Have an attorney double check to make sure you can in fact use that brand.
  • Action Steps: 1. Do some research up front to see if you can use the brand that you created
  • Action Steps: 2. Have an attorney double check to make sure you can in fact use that brand.

legal for business mentorship like netflix, time management tips

-What's up, guys. My name is Daniel McKenna. I am the captain of the Hype Squad here at Thrive 15, the website that provides online mentoring and time management tips. Today, we have Clay Clark and the fabulous attorney, the big old teddy bear himself, Wes Carter. And we are learning about legal things you can do to protect your brand.

Specifically, let's say you're Nike. And let's say I'm out in the parking lot selling shoes that also say Nike. You probably wouldn't be very happy about that. So there's probably some things you would like to do to keep me from selling your shoes out of my trunk out of my car.

Today, we're talking about what you can actually legally do to protect yourself. Here at Thrive 15, we believe that knowledge without application is meaningless. Unless you take the time to learn something today and then apply it to your business or your life, spending time on this website and watching this video is meaningless. How meaningless? More meaningless then Milli Vanilli's Grammy.

ANNOUNCER (VOICEOVER): Thrive15.com and Wes Carter are providing general legal information to provide Thrivers like you with a basic framework of the terms, concepts, and scenarios found within the legal system of the United States. If you are human who is watching this video, you should seek the legal advice of a local attorney before making a legal decision. If you are watching these videos from any country outside of the United States, or from any planets of the planet earth, you need to seek the wise legal counsel of a local attorney who better understands the legal complexities found within your country, planet, state, or city.

For instance, in some states, including California, Florida, Nevada, Alaska and Hawaii a motorist can be cited for driving for too slowly. Other states do not have this law. Although, Clay has actually been pulled over for driving too slow within the state of Oklahoma, which pretty much never happens. Wes Carter is a great American and a beautiful man. But thrive15.com and its partners are in now way legally liable for any fashion statements that he makes verbally or just by emitting fashionable awesomeness simply by entering into a room. Wes Carter is not related in any shape or form to Clarence Carter, recording artist, John Carter, entrepreneurial artist, or Joe Carter, MLB baseball great.

-And we're back. Wes Carter, we are talking today about the legal action you can take to protect your brand. But before we talk about that, I want to shake your hand.

-How are doing, sir?

-I'm doing awesome.

-Yeah, you look awesome.

-I'm feeling like I have just got back from phantasmagoria. Now let me ask you this here. Before we get into this, I want just ask because the thrivers, they're always like, hey, legally you have to tell us, so I'm going to help the thrivers out here. Are you related to Nick Carter, the former teen pop sensation and member of the Backstreet Boys?

-Not that I know of. But it's possible.

-OK, so now, let's get into this idea of protecting my brand legally.

-OK.

-Wes, what are some terrible things that could happen to my logo and my overall brand if I don't take a few basic steps to protect myself. And go ahead, just give me an end times scenario that you-- one that you've either personally witnessed or you've heard about. What could happen if I do not take the time and energy needed to protect my brand?

-Worst case scenario is either someone else has already had the brand before you did. And it's a giant company that comes and smooshes you like a little bug.

-What's a famous-- do you know an example of that? Or have you see that? I mean, just nothing is very specific--

-Yeah, lots of times. I have lots of clients that have-- I mean, a truly unique idea is a hard thing to come by these days. We've been around for however long--

-A lot of human.

-Right. So you know and someone else had that idea before you. They trademarked it. You don't do the research to find that out. And you know, their budget is probably bigger than your budget if you're an entrepreneur. And their attorneys will come shut you down. And you'll have to rebrand the whole thing.

-Tell me another bad story. What's something awful that could-- just totally awful that could happen if I have a little bad luck and I have not spent the time and money needed to protect my brand legally.

-You get hot. You get on a roll. Your brand's on TV. You're blowing up Facebook. Your life is good. Then, all of a sudden, someone else comes in and knocks you off. They have a copycat site or a copycat product that's very similar. Then you don't have the proper registrations to quickly deal with it. You have to rely on some what they call common law rights, which means it's a fallback position and it's going to take much longer to deal with the situation.

-All right, Mr. Negative. So what are some of the basic legal steps that I should take right now to protect my brand from evil?

-One, do a little research upfront. Make sure you're good to go on the name you chose or the branding and the caricature or whatever it is.

-You say, do some research. Do I hire an attorney for this? Or should I be just Googling?

-I would talk to-- I would definitely talk to an attorney. I think you start with Googling and doing some of your own research because you might find something and obviously it's already taken. And then when you pick a name and it looks to you like it's good to go, then you have an attorney check it out and make sure. They have more access to other things. They can make sure for you.

-An example, if you're online right now and you're going I'm going to have a big box retail store. And I'm going to have a blue logo. I'm going to say always low prices. And I'm going to call it Walmart, Wal dash Mart. That's probably not something you'd want to spend time on hiring an attorney to do.

-Correct.

-You just want to deal with that ahead of time.

-Right.

-But after you've kind of got it down to now you're in that murky realm and you're like, it looks good, now you want to call an attorney.

-Exactly. Then the attorney can give you the green light if it's truly good or not.

-How much money is it going to cost me in 2014 dollars, today's money, to protect my brand fully, copyright, trademark, the whole deal?

-You're probably talking several thousand dollars--

-$4,000?

-Several thousand. Probably low lying a couple thousand, high five, depending on how many kinds of products you have out in the marketplace. [INAUDIBLE] with trademarks. You have to file them in different classes. So if I have a clothing class for my t-shirts and my apparel. And then I also have a audio video class because I'm making DVDs of how awesome my clothes are. The more stuff you have to protect, obviously, the cost goes up with it.

-So two action steps every thriver can do is one, just do some basic research using the Google, or the Yahoo, or the Bing, or the whatever you want to use to make sure that you find out if your brand is just in blatant, absolute copyright violation, if you're copying someone's idea completely. If you're wanting to start a company called Chipotle just Google that mess, you'll find there's already a Chipotle established. Save yourself the time and money.

But after that, you need to call an attorney. Spend maybe $4,000 to $7,000, something like that on a--

-Yeah, the search itself won't be nearly that expensive. It may be $500.

-$500 to do a search?

-Well, we're talking $300 to $500. For a small group of products to get it fully protected, file the trademarks, file the copyrights, just to do the search to make sure you're good to go with that name, under $1,000.

-Wes, I appreciate you for coming here and bringing some clarity to this idea that it could be very complex of what I can do to protect my brand. And as always, I just look forward to just suing

you.

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