Scouting for Growth Andrei Mincov: What You Need To Know About Trademarking
On this episode of the Scouting For Growth podcast, Sabine VdL talks to Andrei Mincov, founder and CEO of Trademark Factory, a company that specialises in trademark registration & protection.
On this episode Mincov shares his insights & experiences on the importance of trademarks for entrepreneurs and businesses, and the common mistakes and misconceptions that people have about the trademarking process. He will also explores the role of IP in business growth & success, & the strategies &best practices for protecting & leveraging your ideas & brands.
KEY TAKEAWAYS
- My dad was a famous composer in Russia. A radio station that stole a song he wrote & turned it into an ad for Samsung without his permission, at the time I was attending law school & he asked me for help. I didn’t know anything about IP but in 1996 nobody in Russia had any idea about IP because Russia had just changed from Soviet law into free market law, so I gave it a shot & as part of that journey I became passionate about helping people who created something to protect it from others who want to steal it from them.
- Trademarking is mostly the same around the world, there are small differences here & there & you need to understand them to be successful in those countries. But, this isn’t something I think entrepreneurs should care about, that’s why providers exists who can navigate them through this. What you should know are the basics, it’s not as complex as you might think: What is trademarking? What are you protecting? What do you need to show to the government to prove it's a brand & not a cute name or image?
- The biggest misconceptions I see with trademarks is that you don’t own the word or the image you own the mental association between that work, phrase or image & specific products & services that you sell.
- Why trademark? If you plan to be in business for several/many years, the brand will become the most valuable asset of your business. It makes it easier t=for you to attract better talent, attract better leads at a lower cost to advertise at lesser cost. Even if you file your trademark a day before someone else does, you’re good. The problem is you don’t know when someone else will file for a trademark, so you should do it early or else someone else will do it and you won’t be protected, even if you came up with the name first.
BEST MOMENTS
‘The trademarking process takes a long time & I’ve seen a lot of entrepreneurs being taken advantage of by unscrupulous firms that claim to be able to trademark their brand for $49.’
‘The success rate of your trademark application is directly related to your willingness to understand the basics.’
‘On a general level, what trademarks protect is the brand, whether it’s the name, tagline, logo, or some combination.’
‘Trademarks is the only type of IP that you can own, in theory, forever. Copyrights, patents, industrial right expire, if you renew your trademark every 10 years you can own it forever.’
ABOUT THE GUEST
Andrei Mincov, the founder and CEO of Trademark Factory, is a renowned expert in intellectual property law. With a career that began with a fight to protect his father's music, Mincov has since written multiple books on the subject, including an international bestseller, & has helped thousands of entrepreneurs and companies protect their IP. His passion for ensuring that hardworking entrepreneurs are not taken advantage of led him to found Trademark Factory, the only firm in the world that offers trademark registration services with a guaranteed result for a guaranteed budget. When he's not helping secure trademarks, Mincov enjoys living in Dubai with his wife & 3 kids & playing his one-of-a-kind DrumDesk.
Website
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Email: andrei@mincov.com
ABOUT THE HOST
Sabine is a corporate strategist turned entrepreneur. She is the CEO and Managing Partner of Alchemy Crew a venture lab that accelerates the curation, validation, and commercialization of new tech business models. Sabine is renowned within the insurance sector for building some of the most renowned tech startup accelerators around the world working with over 30 corporate insurers, accelerated over 100 startup ventures. Sabine is the co-editor of the bestseller The INSURTECH Book, a top 50 Women in Tech, a FinTech and InsurTech Influencer, an investor & multi-award winner.