How Much Does It Cost…?
Posted in Miri Market by Anne
I got a simple, great question from David Kam of the blog Marketing Deviant: “How much is it to get a logo and name trademarked?” That kind of specific information is what I want to provide through this blog, and precisely the kind of information I find extremely helpful as I build my business.
First of all, it cost me $2,500 to work with Adsoka to create my company name and logo, Miri Market TM.
Keep in mind that this included making sure that the name we picked would a) have the web domain name available (mirimarket.com) and b) would be preliminarily checked to see that the trademark for the name would be available.
I discussed this cost with a friend of mine who has a company and has contracted out for various creative services in the past. She felt this was a fair price, and considering that I am extremely pleased with the result, it still seems like a fair price to me.
I’ve recently become aware of 99designs where a client can submit a brief explanation of their company name and business, plus how much they’re willing to pay for design of their logo, business card or website - generally from $50 to $500. Then designs are submitted from a huge community of designers for the client to choose from. This wouldn’t have worked for me because I’m developing a unique product and I needed creative naming services as well as the logo, but this might work very well for others.
Regarding legal services, so far it has cost me $1,688 working with Nikolai & Mersereau (www.nm-iplaw.com) to obtain registration for my Trademark.
$522 - for a comprehensive preliminary search for the availability of my mark
$851 - for my Intent-to-use Trademark Application, and government fees
$315 - responding to an “Office Action” from the Trademark Office regarding the word MIRI. This was not significant, but needed some additional information from me plus a letter in response.
I was fortunate to know the approximate cost of this going into the process. I can’t say enough about the practical value of the information in The Mom Inventors Handbook by Tamara Monosoff. Here’s what her book said about the time and cost of getting a trademark:
“Once a trademark application has been filed, it takes anywhere from 16 to 20 months for formal registration. It can take much longer if there are problems with the registration, such as opposition from another party, or if you have to appeal.
The cost depends on the complexity of proceedings. However, you can estimate spending about $925 to $1,075, depending on the type of mark (text versus stylized) and how much your attorney charges per hour. In addition, you may pay more if additional legal time is involved due to unforseen issues that arise with the mark. (We paid approximately $1,500 for each of our trademark filings.)”
My lawyer, Jim Nikolai, has been very candid about the costs, and they have been right in line with what this book described. The process isn’t over, but is well on it’s way.
There is a cost to doing business and my challenge is to put my money to work for me in the areas that will benefit me the most. My personal feeling was that EVERYTHING - all future business, website, trademark protection, EVERYTHING - stemmed from the name and logo and it was worth it to me to pay good money for help in getting it right. I’ve heard a lot of stories about how people grow unhappy with the name they’ve given their business and wish they’d put more thought into it. There are no guarantees, but I don’t want to be in that position
The same with trademark protection - I want legitimacy and legal protection in place from the get-go. So far I’m very happy with the work of the professionals who have now become my partners in building my business.
As always, I welcome feedback and insights you readers have about these costs and services!
