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Speaker 2: What's difference between trademark and copyright?
Speaker 3: So the difference between a trademark and a copyright is
Speaker 3: a copyright is a creative expression fixed out of a
Speaker 3: tangible medium.
Speaker 4: Right.
Speaker 3: A trademark is a source identifier for consumers to relate
Speaker 3: back to where product or service come from.
Speaker 4: So I'll break it down for you.
Speaker 3: So, like a copyright, you can protect a photograph, a painting,
Speaker 3: a picture you know, songs are It cannot be in
Speaker 3: your head, but it has to be fixed into a
Speaker 3: tangible medium. But yes, Dirk has to come in to
Speaker 3: interview represent Chicago. But it's okay, yes, right, But and
Speaker 3: so here's the thing with a copyright. A lot of
Speaker 3: entrepreneurs don't understand that whoever the creator of the copyright is,
Speaker 3: that is, who is the owner of the copyright under
Speaker 3: the law said, the creator, who birthst the creation is
Speaker 3: the copyright owner.
Speaker 4: Now why is that important?
Speaker 3: Because as entrepreneurs, we hire graphic designers, we hire photographer,
Speaker 3: We hire people to come in and create creative works
Speaker 3: for our businesses. Right.
Speaker 4: Have you ever hired someone to create a logo for you?
Speaker 3: Yeah, yeah, right, and by panel you think you own
Speaker 3: that logo? It sure, it's right, Well I know different
Speaker 3: but yeah, yeah right most people.
Speaker 4: And it sounds like it makes sense.
Speaker 3: But unfortunately, because they created the logo, they're actually the
Speaker 3: copyright owner of the logo unless you have them transfer
Speaker 3: their rights in writing. Now some people think, well it
Speaker 3: can be an or no, it has to be in writing,
Speaker 3: and so usually you will have them transferred through a
Speaker 3: work for higher agreement. So like a company like Disney,
Speaker 3: who is creating amazing copyrights and multiple copyrights, the company
Speaker 3: is not creating, it's actually people there. But all of
Speaker 3: those people who are creating it. They're on work for
Speaker 3: hire agreement.
Speaker 2: So okay, So how do you increase the value of
Speaker 2: a trademark?
Speaker 3: I always tell people you have to start with great
Speaker 3: quality the products and services for your the value of
Speaker 3: your trademarks to increase and go up. Right, You know, people,
Speaker 3: I'm a brand buyer, right, I like certain brands, Like
Speaker 3: it's certain soaps that I use.
Speaker 4: I'm only gonna use a certain.
Speaker 3: Type of deodorant, right, Like, I'm a brand buyer, and
Speaker 3: a lot of people are right, Like some people. I
Speaker 3: don't drink pop anymore. We call it pop from Chicago, right.
Speaker 3: What do y'all call it here in New York?
Speaker 4: Soda? Soda?
Speaker 5: Yeah?
Speaker 3: Okay, So are you guys like a Coca Cola or
Speaker 3: a pepsi kind of a.
Speaker 1: Man, it's gonna be telling if I had to, would probably.
Speaker 4: Be coke it cold.
Speaker 3: Oh my god, you're probably gonna get in trouble because
Speaker 3: you're from New York, right, And they like it's a
Speaker 3: real battle with pepsi and coke?
Speaker 4: What about you?
Speaker 3: But if you if you had to, because I don't
Speaker 3: drink it either, but I have a pick if I
Speaker 3: have to pick one.
Speaker 2: If I had to, I don't know. I would probably
Speaker 2: say coc Cola because I think that the brand is
Speaker 2: stronger than PEPSI I just identify it as a stronger
Speaker 2: like I don't eat I don't eat fast food. If
Speaker 2: I had to, I probably McDonald's is a stronger brand
Speaker 2: than Wendy's.
Speaker 3: Right, So the fact that he just has that mentally
Speaker 3: in his mind that these brands are stronger, right, it's
Speaker 3: because of how they are boldly and notoriously representing the
Speaker 3: brand in the marketplace. And as business owners, that's what
Speaker 3: we have to do in order to increase the value.
Speaker 4: Right.
Speaker 3: You guys did a great job with increasing the value
Speaker 3: of earning your leisure right, and so now people want
Speaker 3: to be attached to it, they want to be a
Speaker 3: part of it. And so it's just like you gotta
Speaker 3: just like you know, for me, when I picked the
Speaker 3: biz Lawyer as an Instagram handle, I was just trying
Speaker 3: to pick a cute name on Instagram. But because my
Speaker 3: services is great, my team is great. Now people want
Speaker 3: to make sure when they do their trademarks they do
Speaker 3: it with a biz lawyer because they know the type
Speaker 3: of quality of services is gonna come with it.
Speaker 4: And so that increases our revenue and our value.
Speaker 1: This is something that we've learned. We found a bunch
Speaker 1: of trademarks. You talk about the time it takes, right,
Speaker 1: So obviously we got the first Yeah, we get the attorney.
Speaker 1: We did the search. Talking about the time it takes.
Speaker 1: I know you brought up first rights to that's important too.
Speaker 1: We can we get into that a little bit.
Speaker 4: Yeah, for sure.
Speaker 3: So first thing, first, you want to do the search,
Speaker 3: and you know, a lot of times people it's important
Speaker 3: you do a search not only with the USPTO dot gov,
Speaker 3: but also to see who is using the trademark in
Speaker 3: the marketplace or whatever, because common law rights can fall
Speaker 3: into play as well. But then once we do the search,
Speaker 3: we actually will issue an opinion letter with the search results.
Speaker 4: We'll go through the opinion letter.
Speaker 3: You know, one thing that I think is very different
Speaker 3: about our firm outside of the fact that it's probably.
Speaker 4: Been you know, black owned by me the female.
Speaker 3: But one thing we do is we counsel and advise
Speaker 3: our clients based on the search results. Not a lot
Speaker 3: of people do that. They do the research and they
Speaker 3: just file the application or they don't.
Speaker 4: Right.
Speaker 3: We tell our clients and also too, if we see challenges,
Speaker 3: we create strategy on how we can possibly win the trademark,
Speaker 3: especially if the client already has invested, you know, thousands
Speaker 3: of dollars into the brand. But once we do that,
Speaker 3: we get in on a file. Now here's the thing.
Speaker 3: The trademark application used to take about three to four
Speaker 3: months for the government to review it. But now because
Speaker 3: after COVID, I feel like a lot of people was
Speaker 3: empowered to become entrepreneurs. But also a lot of people
Speaker 3: are more educated, so people have filed trademarks. Actually, during COVID,
Speaker 3: the most trademarks ever in history was fouled. Okay, yes,
Speaker 3: and so now it has pushed the government review time
Speaker 3: back to actually eight to nine months. So now it
Speaker 3: takes them eight to nine months just to review the application.
Speaker 3: Once they review the application, they can either approve it
Speaker 3: or iss your office action. If they approve it, it
Speaker 3: goes to what's called publication for opposition. Now, publication for
Speaker 3: opposition allows anyone in the public thirty days.
Speaker 4: To oppose your trademark.
Speaker 3: This is why it's important that we file trademarks with
Speaker 3: integrity and also too we watch our trademarks because if
Speaker 3: you file a trademark like.
Speaker 4: I'm Coco Chanel.
Speaker 3: Chanell is gonna come and oppose the trademark and probably
Speaker 3: send you a c sent desist letter right away when
Speaker 3: they filet that you filed the trademark. But the good
Speaker 3: thing about it is is that as a brand owner,
Speaker 3: you want to watch your trademark because people can be
Speaker 3: filing things confusingly similar to your brand as well, and
Speaker 3: a government they try to stop things, but they sometimes
Speaker 3: they let things through as well. So once you go
Speaker 3: through that phase, if no one opposed the trademark, you
Speaker 3: can have registration within twelve weeks from the thirty day deadline.
Speaker 3: So that can take about nine to eighteen months right
Speaker 3: now to get a trademark register. I'm sorry, twelve to
Speaker 3: eighteen months to get a register.
Speaker 4: But let's go back.
Speaker 3: If the government takes issue with application, they can issue
Speaker 3: a office action, bless you. The office action can require
Speaker 3: either substantive response or non substantive response. If it's a
Speaker 3: non substantive response, that means something minor is going on
Speaker 3: and a government wants you to fix it.
Speaker 4: And that's no problem.
Speaker 3: But if it's a substantive issue, the government is refusing
Speaker 3: it on a likelihood of confusion. Or failure to function
Speaker 3: as a trademark, or at the trademark being merely descriptive,
Speaker 3: and you will have to present legal arguments with the
Speaker 3: legal brief to argue why the prices should have the trademark.
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