The Battle of the Reelz® : Instagram Reels May Be In Trouble

Instagram rolled out their new video sharing reels this August, but what folks might now know is that a Minnesota broadcasting company, Hubbard’s, owns a trademark for REELZ®. Now, when you own it, you protect it. Hubbard’s has filed a federal lawsuit against Facebook and Instagram to demand they stop using the name Reels. The claims: trademark infringement, trademark dilution, and unfair competition.

Basically:

1. Trademark infringement: IG is encroaching on their trademark rights to exclusivity in the marketplace aka the reason they filed the trademark

2. Trademark dilution: IG’s use of the term Reels and infringement, dilutes the worth of the trademark because of how famous IG is and distinctiveness of REELZ® trademark

3. Unfair competition: REELZ® now has to unfairly compete with Facebook and IG and potentially having people questing which one?

As a CEO, it’s important you check that you can use that name before you launch. Facebook and Instagram may be able to foot the bill for a lawsuit like this. Can you?

Sign up for the Start-up 101: Foundations Bootcamp. Learn how to do a due diligence check for the product, service, or brand name before you launch to clear it for use. ENROLL HERE: BIT.LY/STARTUP101BOOTCAMP

Got Legal Questions?

This is a popular question and one that trademark attorneys will disagree on.

Here’s my answer:

No. You do not need to trademark your business, brand name, logo, or slogan when you register your business.

First, you are starting out and many entrepreneurs make changes and pivot from their original idea in business to see what is viable in the market.

Until you are sure that the brand, logo, slogan, or business name is the one you plan to build on, save your $200+ on trademarking.

Now, if you know that you don’t want anyone to steal your idea and you are sold on it. Trademark it. Trademarks afford you with broader protection to enforce exclusivity to the use of your trademark for the class you file in.

There are two ways to file: under Section 1(a) Use in Commerce or Section 1(b) Intent to Use.

The first, you must be actually using it in commerce (business) and the second, you intend to use it. If you file under the latter, you will have to pay more fees and file additional paperwork.

So short answer: No, you do not have to file for your trademark at the same time you register your business.

Truthfully, once you know you have gold worth protecting, protect it. This is where I recommend you get a trusted Intellectual Property lawyer to help you navigate the process and file correctly. There are no refunds with USPTO.

See you next Friday for Got Biz Legal Questions?

One Woman's Business Shutdown for Infringing on Iowa's University Trademark

Article Source: The Gazette

Intellectual Property + Business Profits

A woman brought fabric with University of Iowa Hawkeye Logo on it from Joann’s Fabrics. She read the license but it was wrong. She woke up and found out her thriving business she started during COVID19 got shut down. Her website SHUTDOWN. Profits SHUTDOWN. {SWIPE to read the article}

Her argument: It’s not hurting anyone.

When you build a brand you have a right to protect it. That’s exactly what University of Iowa did.

How many face masks or T-shirt’s have popped up with famous logos on them?

Don’t get your business and profits shutdown because you won’t invest in doing it the legit... Legal Way. And for creatives making them be careful you’re not designing a mask, shirt or any product at a clients request with a logo or slogan that’s copyright protected.

Secure Your Profits by Grabbing Your Copy of Build A Legit Business and Avoid Costly Legal Mistakes like this one and many others at www.buildalegitbiz.com

Want to read a chapter of the book before you buy and still learn about trademarks, copyrights, and protecting your brand, click link in my bio or grab free ebook at bit.ly/ProtectMyBrandFreeBook

Article Source: The Gazette

Got Legal Questions?

It’s Friday y’all!!! Time to answer a legal question. Check the photo for todays question.

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Ohhh websites. I look at so many and my legal eyes raises a flag at what’s missing.

ANSWER:

Here’s what your website needs:

1. Privacy Policy

2. Terms of Service/Use/Terms and Conditions (all the same)

3. Copyright © information

4. Your Policies specific to your business whether you offer a product/service or both

5. Copyright or Licensed Content (the words, graphics, and everything you use on your website should be your original work or work you have a license to use or hired someone to do for you which you have the license (Intellectual Property 101))

6. Disclaimers - Any Legal disclaimers or warranties that you need

7. GDPR notice and all the legal requirements for collecting emails if you plan to have a pop up box or email subscription

That’s the gist of it. If you want to learn what goes into your privacy policy, terms of use, the email marketing legalities, and get the website checklist- invest in Build A Legit Business™ and it will walk you through it all. Get the book at www.buildalegitbiz.com

What Nick Cannon’s Story Teaches Us About Protecting Your Genius?

Photo Credit: @TheWrap @MTV

Nick Cannon’s story has been circulating of him speaking out and being fired from Viacom. Well heres the thing... it appears Nick never secured his intellectual property rights to any of the shows he helped grow into a billion dollar portfolio for Viacom.

He poured his creative genius into the company and he left with no rights to it at all. Can you imagine doing the work and leaving with nothing?

If you have a podcast, you could be doing that. If you are working on your business while at your full time job, you can be doing that. There are so many ways you could be putting yourself at risk and not even know it.

Download a free copy of Protect Your Brand and Build It Wisely - Intellectual Property Edition To Make Sure That Doesn’t Happen To You at bit.ly/ProtectMyBrandFreeBook

Don’t make the same mistake Nick made.

P.S. The ebook is the intellectual property chapter from my book Build A Legit Business. If you have the book, you already have it.

Got Legal Questions?

An entrepreneur submitted a legal question and I answered. See photo for question.

—

Thanks for your question.

ANSWER: Yes, you can learn what licenses you need without an attorney.

How?

The state you plan to open and run your business in will have a website that lists the licenses you need. Simply search business licenses and put your state.

There are different licenses of course and then there are state and federal regulations for your business.

You can also purchase my book which is a legal guide through the startup and life of your business with a link specifically to state specific licenses and permits as well as federal regulations that may govern your products & services. You can purchase the book at: www.buildalegitbiz.com

Also, here is the link I included in my book from SBA for all federal and state licenses and permits. https://www.sba.gov/business-guide/launch-your-business/apply-licenses-permits

Happy Friday! Thanks again for asking your question!

- Chayla

Got Legal Questions? Get exclusive access to ask your question when you purchase the book and receive continued support.

#buildalegitbiz

Tax Day: Business Taxes You May Need To Pay

Today is Tax Day!! Thanks to COVID-19 we got an extension.

Make sure you pay all your taxes as a business owner and file your forms.

Last week I reconciled my books, pulled reports and sent myself a Schedule K-1 so I could file my S-Corp return with the IRS. Last night I made sure I paid $300 for my business’ property taxes and submitted the return. Because in the past, I forgot.  So I took precautions. Yes, your business may have to pay property taxes. It’s an asset and separate person in the eyes of the law.

As business owners, we sometimes wear multiple hats.

So if you don’t have access to legal counsel, make sure you’re legally complaint by filing and paying any and all of the taxes in the photo that apply to your business.

Have you filed your business taxes?

3 Ways to Avoid Legal Entanglements in Your Business

Jada & Will and their marriage are the talk of the town.

Soooooo... it’s the perfect time to talk BUSINESS ENTANGLEMENTS.

Before you let another person, potential investor, collaborator, or company into the intimate parts of your business and creative ideas... get a non-disclosure agreement or a confidentiality agreement signed. A NDA prevents disclosure but a Confidentiality Agreement requires the other

party to take preventive measures to protect the information you plan to share unlike a NDA. If they breach... you may be able to sue.

Protect Your Assets & Your Profits.

#BeLegit #StayLegit

#BuildALegitBiz

On top of that, don’t steal someone else’s work. Infringing on another person’s trademark or copyright can cost you a pretty penny.

Don’t get caught up in a legal entanglement. It’s not cute and it can cost you. Purchase Build A Legit Business and Avoid Those Costly and Deadly Legal Entanglements that can kill your business and profits. www.buildalegitbiz.com