April 16, 2010, Newsletter Issue #124: Beware The Financial Consequences

Tip of the Week

If you do not register your mark, and someone else chooses to use or challenge it, you may be forced to change your name and logo. A name change for one site with established operations costs approximately $25,000. It also confuses the public and has adverse effects on goodwill.

Further, when you sell your franchise you have to provide the prospective franchisee with a Uniform Franchise Offering Circular (UFOC). This document is required and has a section detailing trademarks and servicemarks. If you do not own your trademark, it will be noted here. A prospective franchisee should be advised to question why you don’t own it and what the potential costs are should a name change be forced upon the company. This is a large factor in deciding what franchise to purchase.

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