Mark Twain once said, “History never repeats itself, but it does often rhyme”. During the World Wide Web (Web 2) emergence, trademark owners rushed to “registering.com” to protect their brands with domain names. The importance of branding in Web3 is no different. Blockchain domain names resemble “traditional” Web2 names because they can incorporate trademarks. However, they are different.
Trademarks: Web2 vs Web3
In Web2, a centralized authority (ICANN) that oversees the domain registrar exists. In Web3, there is no central authority like ICANN imposing constraints. Their jurisdiction falls only within Web 2. Web3 domains are non-fungible tokens (NFTs). One of their use cases is the replacement of wallet addresses with readable addresses. A blockchain wallet is a long unique string of numbers and letters. By replacing this hard-to-read string with easily memorizable names, a more user-friendly environment is created for users.
This increased user experience in Web 3 will allow businesses to create more value for their customer and raises the importance of brand protection. Brand owners have the chance to protect their domains through trademarks.
What are Trademarks?
A trademark is any symbol, phrase, word or combination of these things that allows customers to identify a company’s goods or services. A “trademark” can be used both for goods and for services (“service mark”). Businesses use trademarks to:
Protect their brand through legal protection
Reduce counterfeiting and fraud
Help identify the origin of their products and services
A common misunderstanding about trademarks is that one owns the symbol, phrase or word used in a brand. This is not the case. Trademarks give owners the right to how a word or phrase is used with their specific goods or services, not to own the phrase or word. Imagine trademarking a slogan (“The best service”) for your restaurant. If another restaurant uses your trademarked slogan without your permission. You have the right to pursue legal action. However, businesses in other industries can use the same slogan without legal repercussions.
This is a great advantage to have for your business. But here is the catch. Registering a trademark, while it is advantageous, is not as simple as it seems.
Applying for a trademark is a very long and complicated process. Lets see how you would traditionally apply for a trademark.
Trademarks: The Traditional Route
This is what typical application requirements look like:
Choosing what type of trademark to register
Figuring out whether the trademark is already registered
Classifying goods and services
Filling out different application forms
This procedure is very time-consuming for those who have no experience. An attorney is not required to register a trademark. However, it can make the process simpler. It also makes it expensive. There is no guarantee that a trademark will be registered. This process takes up to 18 months. Therefore a mistake in the application requirements can be expensive, tedious and problematic.
Freename.io has identified and addressed this problem by making trademarks easy, accessible and affordable for everyone.
Registering a Trademark through Freename.io
Freename.io is a web3 domain/TLD provider that also provides trademark registration. Users can juridically protect their web3 TLD and logo worldwide. Unlike traditional registration, registering a trademark on Freename.io is designed to be fast, smooth and cheap.
A user must reach out to the trademark department to register a trademark. A user must provide the following to get their trademark filed for review at the Swiss Federal Institute of Intellectual Property:
A Know your customer (KYC)
A list of TLDs they wish to trademark
Proof of payment
Once these conditions are met, it takes one week for the trademark to be reviewed and logo/TLDs to be provided with six months of worldwide protection.
A trademark is undoubtedly one of the best security decisions a business can make. Having the legal backing to support impersonators and bad actors is a huge advantage. Trademarks also offer a sense of professionalism and trust to potential customers. However, traditional trademarking is a very time-consuming process (not to mention expensive!). Freename trademark services are tackling that problem head-on.
Freename Trademark Service: How does it work?
You can apply for a trademark by contacting our trademark department which will assist you promptly.
The process is designed to be fast and smooth.
You will be required to submit a KYC, the list of TLDs you want to trademark and service payment proof.
Usually it takes as fast as 1 week to have your trademark submitted to the Swiss Federal Institute of Intellectual Property review and protected worldwide for 6 months. In Switzerland trademark service starts at $1,500 per single trademark. More Info