A distinguishing trademark or service mark is essential to the success of any product or service. Trademarks are the way by which companies build consumer confidence and trust. Not only do similar trademarks confuse consumers in the marketplace they also serve to significantly dilute the strength of a company's brand.
Often, emerging companies and entrepreneurs with limited financial resources delay clearing and securing trademark or service mark rights. Unfortunately the delay sometimes leads to discovering that the marks are not protectable or worse, the marks infringe the rights of senior users, which may result in an injunction against further use, loss of profits, loss of any consumer goodwill established to date, and loss of the initial capital investment in developing the brand. That is why it is imperative that trademark rights are a top concern and priority of any new venture.