If you are an entrepreneur, start-up, or established business and you are selling products and/or services, you’re going to want to read on. Taking the right steps to ensure that your brand is not only protected but also stands out from your competitors is essential.
The best way to ensure protection and brand recognition is by filing for trademark protection in the jurisdiction(s) you are planning on selling/using your products/services.
A Trademark can be a name, expression, symbol, logo, tagline, slogan, color, smell, or any combination thereof that distinguishes your brand in the stream of market competitors. Your trademark is the reputation of your brand.
A trademark provides its owner with the exclusive rights (in the jurisdiction registered) to use its trademark in connection with its specific products and/or services. This means nobody is allowed to imitate your mark.
With a rapid increase in the introduction of innovative products/services in the market, it is important to protect your unique product and/or services with a trademark. It will not only protect your business from unfair competition, but it will also protect your customers from being misinformed about your product through companies that can potentially imitate your business.
The Importance of a Trademark
Every one of us comes across a trademark probably without knowing much about its importance and function for a successful business. Apart from protecting the uniqueness of products and/or services from your counterparts, it is also an excellent marketing tool that helps you to generate recognition for your business. Entrepreneurs should consider what a trademark can do for their business.
While applying for trademark registration is not a legal requirement to run a business, knowing whether or not the name, slogan, design, etc. that you use or are planning to use is being used by a third party is imperative.
In some parts of the world, banks will not register the name of your business if it is not trademarked. They will want to be provided with the assurance that you have the exclusive rights to the name you are using to distinguish your products or services.
Brand recognition is key. You want your customers to be able to pick your product or service out of numerous similar products or services. Your customers need to be able to recognize your brand among a myriad of other brands. For Example, the Nike “swoosh” symbol, Apple’s logo, and Coca-Cola’s brand name as well as logo are all globally recognized. Now more than ever, with crowded online markets (Amazon) and competition, trademarks are even more important. You do not want your brand getting lost among the sea of other brands that offer the same type of products/services as you.
Moreover, trademarks are also a valuable intangible asset, with their value appreciating over time as your business continues to grow.
Using a brand without trademarking can have devastating effects for your business, including, but not limited to, requiring you to change your name, being sued for passing off or trademark infringement, or worse having to fork over any profits to a third party who may have been using your trademark first.
Benefits of Registering a Trademark
Exclusive Rights
One of the most important benefits of registering a trademark is that it provides you with the exclusive right to use your trademark in connection with the products/services with which it is registered. This allows protection against copycats. It ensures that your brand is not diluted and that your reputation is strong. It also allows you to enforce your rights against any third party who tries to imitate your trademark.
Brand Recognition
Another key component of trademark registration is brand recognition. Consumers will be able to identify your brand apart from those of third parties.
Asset Protection
Trademarks become a business’s most valuable assets. Think of companies like Google, Amazon, McDonalds and think about if they had not protected their trademarks from competitors, it could have been disastrous.
How to Register your Trademark
So now you know the benefits of brand protection, you’re asking how to start. Get in touch with our team today and we will be able to guide you through the process so that you can file and manage your mark on your own or we can take care of it for you from A to Z.
Trademark Depot is a team of professional and experienced attorneys, paralegals, agents as well as assistants. It is an international trademark registration agency with 20 years of experience, providing quality services at a reasonable cost with absolutely no hidden charges. We leave no stone unturned when it comes to ensuring that its clients opt for the right trademark and that it gets registered. Throughout the process of trademark registration, Trademark Depot stands by its customers, guiding them every step of the way.
Get in touch today. You can contact us anytime by calling 1-833 TEAM TMD (1-833-832-6863) or by