Beware The Financial Consequences
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Beware The Financial Consequences
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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