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Wholesale Business - Start up - Name / Brand Protection

  • Wed, February 16, 2022 10:50 AM
    Reply # 12604610 on 12600914
    Christian Szpilfogel (Administrator)

    HI Adam,

    Marking and incorporating are two different things. Most people don't trade mark their name. The risk is that someone starts using your name intentionally or unintentionally causing confusion. Domain names are a particular problem as domain pirates tend to grab any domain that someone has even google searched. So if you choose not to mark then grab whatever domains you feel you actually need and don't worry about the rest as Google search doesn't care too much about the domain name.

    I did start the marking process for my brand. I chose a name that I could use in any context and serves as a root. For example xxxxx Holdings, xxxxx Property Management, xxxxx Consulting, etc. It is a loooooonnnnnngggg process in Canada. I started my application in 2018 and I should have approval by the end of February (so roughly 4 years). And it will cost you several thousand dollars to have a trade market agent to do the work for you. In the US it is much quicker. 

    As for incorporating, this is a discussion you should really have with a real estate focused accountant first, followed by a lawyer (or ideally together). What you need very much depends on your specific circumstances and your long term goals. A lawyer will look at it primarily from a liability containment perspective. An accountant will look at it from a tax efficiency and separation of concerns perspective. For example, your investments may be passive income while a wholesale business is generally active income. They would have two different tax treatments. Active business is generally taxed much less than passive income which will be important to you especially if you have retained earnings. An accountant will be your best advisor here. It is a very specialized skill.

  • Tue, February 15, 2022 6:07 AM
    Message # 12600914

    Hello,

    After seeing the recent guest speaker Luc Boiron. I am working on my wholesale start-up plan.


    I am very new to the topic of name and or brand protection. So far, I have secured a domain name and Facebook page. Should I also be looking into trademarking that name too or incorporating it? 


    I currently have a real estate corporation that I created last year and am using to purchase properties with. So, I dont know if I really need another corporation to generate off-market leads.


    Please provide any feedback or refer me to any subject matter experts that could help. 


    Thank you!

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