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Obtaining a patent can be a lengthy and challenging process. If you do invent something new, it can take more than a year—perhaps two years or more—to get approval from the United States Patent and Trademark Office (USPTO) for your creation.

Patents are a powerful tool for inventors, businesses, and individuals alike. A patent grants its owner the right to prevent others from making, using, or selling the patented invention in the United States and its territories.

Trademarks can be names, logos, symbols, and descriptive phrases. The Golden Arches, for instance, identify directly with McDonald’s. Or, “Let’s get ready to rumble,” the phrase made famous by boxing and wrestling announcer Michael Buffer has been officially trademarked with the United States Patent and Trademark Office (USPTO, and earned the owner some $400 million in licensing fees.

When people come up with a name, logo, symbol, phrase, or image for a new product or service they’re offering, their first instinct may be to seek trademark protection, as if that’s as simple a task as registering a vehicle you just purchased. Just fill out a form, pay your fee, and you’re done. But, trademark registration is not that straightforward.

As an entrepreneur, you’ve been following an idea for an item you are passionate about and opening a retail shop. You want to protect your brand, so you apply to the U.S. Patent and Trademark Office (USPTO) for a trademark, and the application is denied.

You’ve just designed something new and applied for a patent, now waiting for its approval. Meanwhile, during the patent-pending period – when your application has been submitted but not yet approved – you discover that someone else has just hijacked your design and is already offering the world a better option. What can you do?

Many business owners – both those starting out and those who are more established – have misconceptions about what a trademark accomplishes, as well as how and when to register and then protect one.

When people hear the word patent, images of inventors toiling away in their garage or basement come to mind as they try to build a better product that will make them wealthy for life. Patents, of course, do cover inventions, but they also protect designs and new forms of plants.

An individual’s or business’s ideas, inventions, and creative endeavors are protected by the U.S. Constitution and ensuing legislation regarding trademarks, copyrights, and patents. However, only obtaining official protection through the legal system can sometimes expose you to infringement and illegal reproduction if you fail to exercise due diligence.

A trademark is a valuable asset to a company. Unfortunately, many businesses are vulnerable to trademark infringement. Infringement, however, is not the only threat that your company may be facing. Some businesses may also be at risk of becoming victims of trademark dilution.