Effective trademark management involves several key steps: 1. Selection: Choosing a distinctive and legally protectable trademark. 2. Registration: Registering the trademark with relevant authorities to secure legal protection. 3. Monitoring: Continuously monitoring the marketplace for potential infringements. 4. Enforcement: Taking legal action against unauthorized use or infringement. 5. Renewal: Ensuring timely renewal of trademark registrations to maintain protection.
Business leaders must oversee these steps to protect the company's intellectual property and maintain its competitive edge.