How to Register a Trademark for Banking

Introduction

If you’re opening a bank, it’s important to select a name that is unique and helps your customers identify you. One way to protect your brand is by registering a trademark with the United States Patent and Trademark Office (USPTO). This article will guide you through each step of the process so that you can get started on protecting your business’ identity.

Identify the Goods and Services Covered by Your Trademark.

You have to identify the goods and services covered by your trademark. A trademark is considered a “symbol” of your business, so it’s important that you choose something that accurately represents what you do. For example, if you own a financial institution with multiple branches, then it would make sense for your trademark to include “banking,” “loans,” or even “financial services.”

If you’re registering a new mark or expanding an existing one, then list all of the goods or services in alphabetical order. You can also file additional papers later if you want to add additional items at any point down the line.

Determine the Source of Your Trademark.

The source of your trademark can be a person, place, product, or service. For example:

• The source of the trademark for “Starbucks” is an event (a film festival in Seattle).
• A trademark for “Thai Airways” would be based on a person or business entity.

Choose a Trademark That Is Acceptable for Registration.

When choosing a trademark, make sure it is not too descriptive and that it doesn’t describe your product or service. For example, if you are opening a bank in London and your trademark is “The Bank of London,” then this will likely be rejected because the word “bank” is descriptive in relation to banking services. However, if your bank provides insurance services as well as banking, then this would still be acceptable because it does not describe any particular type of banking or insurance service.

The same goes for generic terms that are often used in many industries. For example, if you were intending on selling goods online under the name “Shoes Direct,” then there’s no need to worry because this isn’t considered a descriptive or generic term (unless perhaps you’re trying to sell direct shoes).

Search Existing Trademarks.

Doing a search to make sure your mark isn’t confusingly similar to other trademarks is one of the most important steps in trademark registration.

For example, if you want to register “Directions” as a trademark for banking services, do a search on the USPTO website and Google for existing trademarks that are similar. You may find that there are already other trademarks that use “Directions” in their mark but for different goods or services. If so, you should think about changing the wording of your proposed mark so that it does not infringe upon those other registered marks.

You should also perform searches using social media sites such as Facebook, Twitter, and LinkedIn because these sites can give insight into what companies are currently using this name as part of their marketing efforts or social media profiles.

File an Application With the USPTO

You can file your trademark application online with the USPTO. You can also file by mail or fax. The USPTO requires that you submit a filing fee of $225 per class, which covers up to three classes of goods and services that make up your trademark. The filing fee must be paid using a check or money order in U.S. dollars drawn on a U.S.-based bank account, payable to “U.S. Patent and Trademark Office” (do not write out “United States Patent and Trademark Office”). The registration process is free of cost until you pay your filing fee at the end of step one; after paying this first payment—which will be refunded if your application is rejected—you will then enter into an agreement with the USPTO so that it may administer your trademark rights throughout its life cycle from registration through renewal and cancellation procedures if necessary.

Pay the USPTO Filing Fee

The filing fee is $275 and must be paid at the time of filing. However, if your application is filed electronically, you have 30 days from the date of submission to pay the fee. The USPTO accepts credit card, debit card, or check payments via its website. Credit cards are preferred because they provide faster processing than check payments.

Takeaway

You can file an application to register a trademark with the U.S. Patent and Trademark Office (USPTO) in one of two ways: by filing an electronic application or by submitting a paper application. Either way, you will need to pay the required fee at the time of submission. If you are filing an application electronically, you have 30 days from the date of submission to pay the fee. If you are submitting a paper application, however, you must pay the fee at the time of filing.

Conclusion

If you have a great idea for a new product or service, it’s time to start thinking about protecting it. The trademark registration process can be complicated, but with these tips and strategies in mind, anyone can do it. So go ahead, get started!