Consumers’ purchasing decisions are influenced by trademarks and the reputation such brands represent. It is important for business people to have an understanding of why trademarks are important assets and help grow their business. Here are the top reasons of why trademarks are important to your business.
- Take legal action against anyone who uses your brand without your permission, including counterfeiters.
- You can register your trademark to protect your brand, eg the name of your product or service.
- Put the ® symbol next to your brand – to show that it’s yours and warn others against using it.
- Sell and license your brand.
In a single brand or logo, trademarks can convey intellectual and emotional attributes and messages about you, your company, and your company’s reputation, products and services.
The marketplace is crowded and it’s hard to distinguish your business from your competitors. Trademarks/brands are an efficient commercial communication tool to capture customer attention and make your business, products and services stand out.
Your brand is the first thing customers enter into a search engine or social media platform (Facebook, Twitter, Pinterest) when looking for your products and services. Higher traffic on a website or social media platform translates into higher rankings, bringing even more traffic, more customers and more brand recognition.
Trademarks can appreciate in value over time. The more your business reputation grows, the more valuable your brand will be. Trademarks provide value beyond your core business. Trademarks can lead the way for expansion from one industry to another, such as from personal care to clothing or eye ware. If you desire it, your trademark can lead to the acquisition of your business by a larger corporation.
Your trademark will not expire as long as you are using it in your trademarked country commerce. Some of the most recognized brands in the World today have been around for over a hundred years. Mercedes was first registered in 1900. Pepsi-Cola was registered in 1896.
We are committed to providing you with pro-active recommendations and solutions for your intellectual property strategies and trademark needs. Let’s start here.