A worrying new trend is threatening businesses: the trademark trolls.
This is when a “troll” registers trademarks relating to your business in an effort to make money from you. If you are not savvy in protecting your brand by registering all the relevant trademarks relating to your product in all the markets you are going to trade in, there is nothing to stop someone else doing it. You’ll then usually have to face legal proceedings as you attempt to prove that you alone have the legitimate right to use that name.
The businesses that are most affected by these trolls are small ones that don’t have the money or inclination to fight back through the legal system. They’ll often settle out of court rather than spend thousands to try and stop the trolls and this is why trolling is so lucrative.
This is killing innovation and the problem is getting worse year-on-year. Take a look at today’s infographic below to find out how to protect yourself and your business.