What’s ‘Lin’ A Name?

As Seen on the Stage 4 Solutions Blog: (With a slight title change, I wrote it I can do it).

When you look at the common denominator among successful businesses, be them local, small businesses or large, multinational corporations, one thing is certain; each actively maintain, promote, and protect their strong brand name. The task is no simple act, especially for small businesses, considering the countless channels, both online and offline, in which a brand has visibility.  Why is this important?

“Your brand is your most important asset,” explained Laurel Sutton, Co-Founder of Catchword Branding, a cross vertical naming and branding leader. Things can go “viral in seconds” she said, so it’s essential to “be aware and make a plan.” At last night’s Business Marketing Association event, Laurel shared with us some brand-protection “Do’s and Don’ts,” shedding insight on the many challenges brand managers face.

Just ask Jeremy Lin, the New York Knicks new point guard sensation – far from a brand manager by any stretch of the imagination. Just a month ago, Jeremy spent most of his game-time minutes on the Knicks bench, an unknown and unproven player. Now, Jeremy finds himself on the front page of newspapers and websites, globally. True “Linsanity.”

But Jeremy, a Harvard grad, is smart, very aware and has made a plan. (No he wasn’t at the BMA event last night, but his actions certainly reflect a working knowledge in the brand management field).

Knowing the trademark landscape is extremely crowded; Jeremy hired a lawyer and applied to trademark “Linsanity.” With T-shirts, mugs, and other souvenirs appearing everywhere proudly sporting the tagline, Jeremy sought to capitalize on the opportunity and make money off of his own success. Not so fast. Two other individuals had already applied to trademark the term! Again aware, this time of his intellectual-property rights, Jeremy is prepared to oppose the other applications – which he would probably be successful in opposing, sources close to the matter claim.

Laurel would wholeheartedly support his decision. “Don’t sign away rights to your name,” she defended, stressing the need to be diligent in sending cease and desist letters to protect what is yours. If one person has rights to your name, what’s stopping the next person and the next person?

Ultimately, Jeremy Lin seems to be following Laurel’s advice perfectly. He is aware, has made a plan, and has set aside time in his busy schedule to make brand management a part of his daily business routine.

So What Can You Do For Your Business?

Below are some brand management “Do’s & Don’ts,” shared with us by Laurel.

Procure