My first step

When putting up a company there are a lot of things to think about before starting the actual process. A LOT!
First of all you don’t want people to steal your brilliant idea or the name of your company. You also don’t want to be sued for trading under someone else’s name, not even knowing that you are using someone else’s name or be taken to court for the law of passing off because you have caused damage to goodwill of that particular company. That can cost you A LOT.
You should always check that the name of the product/service you are using is not owned by someone else, and you would certainly like to own that name so that nobody can take it away from you.
Now, trademark registration and comprehensive trademark search can be fairly expensive. It is recommended that you hire a lawyer to do a comprehensive trademark search in the territory you would like to operate BEFORE you actually file the trademark registration. So already now you have a huge expense before even knowing if you can actually use this name. So now you see that there is ONE important thing you need when putting up a company and that is $$$$$$. Do not EVER underestimate cash. Never…ever! Even though I do think that money is not everything, money is certainly important in business. Money is something you realistically should have from day one. Yes, of course it depends on the type of business, the size of the business etc, but there are always expenses. Everything from your lunch during work hours to your SWOT-market analysis are all money that goes out, and not in.
So there you are with a great idea, but no money at all. What do you do? You could introduce the idea with a disclosure agreement so that the investor cannot steal it, but you are not 100%, safe, so if you really care and you really want to be on the safe side; a trademark registration is necessary. Well, then where do you get the money if you are not going to introduce it to an investor who might give you the finance you need? Tricky…tricky… You could as stated go to a lawyer even before you have registered the trademark, but if you don’t because you are just as paranoid as me you should ask your mom, friends or get funding to cover the initial costs such as a lawyer to do a comprehensive trade mark check so that you know that when you actually file the name you will get it… As stated I am quite paranoid when it comes to ideas, I’m also very good at keeping secrets, so I didn’t want to share it with anyone.
First thing I did was to google the name, then I bought all the domains of this website http://www.names.co.uk/, then I did my own comprehensive trademark search, then I filed the name straight to the The United States Patent and Trademark office (http://www.uspto.gov/). Reason why I did this without any legal help was because I didn’t have the money and I wanted the biggest territories (the more expensive), plus hiring a lawyer to do the job is more expensive than to actually file the name straight away. If the lawyer finds out that you can file the name you still have to pay USPTO the filing fee. So you actually save money either way when filing directly to the USPTO.

After 3 months I got an email from USPTO saying that the name was now mine. VERY HAPPY GIRL!
Then I went to ¨Madrid System for the International Registration of Marks¨, which is where you can register more than one name in more than one territory at the same time for a lower price (http://www.wipo.int/madrid/en/) so now I feel that I can relax with the paranoia! LOL!

I have to admit I spent a lot of time doing my own comprehensive research and understanding how intellectual property was different from territory to territory, however I can assure you that this is NOT rocket science. You just have to do it and be focused. Thats all!
So hang in there if you are dying from all the paperwork :)

Next time I will show you what kind of company form I have chosen, why and alternatives.
Dont stay up too long!