Trademark is another term of a brand or its name, and is basically the logo of a company. It can be any name, word, symbol, slogan or device that identifies a company or product and distinguishes it from other companies in the current market. Registering your company as a trademark enables you to enjoy legal protection rights and can prevent parties from using or attempting to mislead consumers.
When consumers make purchasing decisions, they will be affected to a certain extent by the brands and reputations of these brands. Entrepreneurs need to understand why a brand is an important asset and an indispensable tool for business development.
So what makes a trademark so important?
As a business owner, you may have heard of trademark protection, but you may still have questions about the entire process. Applying for trademark registration will not happen overnight, and you may wonder whether this is suitable for your business or not.
Here are some reasons why your company needs a company name or logo. In terms of trademark protection, there are significant differences, from focusing more to improving the scope of sales performance.
Trademark creates brand recognition
Trademarks provide brand safety for start-ups. By registering a brand name, you can distinguish your services and products from competitors and become their intellectual property rights. In this way, you can prevent competitors from copying or stealing your brand.
Branding is a great way to build a brand’s reputation, even if you don’t attract a large number of customers. Since your brand is an additional layer of protection, it is necessary to protect your reputation among customers. You will know that customers only need to look for a brand if they are impersonating another brand company.
It is also a good thing to work with companies that take time to register trademark protection. From the customer’s point of view, this will make them feel safer and more confident when deciding to work with you. You can rest assured that you are working hard to provide outstanding service in a professional manner.
Trademarks are a valuable asset
The value of the trademark increases over time. The higher your reputation as a company, the more valuable your trademark is. The value provided by the trademark goes beyond your core business. Brands can pave the way for cross-industry expansion from personal care products to apparel and eyewear. If you want, your trademark can cause your business to be taken over by a larger company. Whether you get a trademark for your brand or you’re looking for trademark logo design, getting own as soon as you start your business is essential.
Expand your business more easily
If you start a business in your state, you have the exclusive right to use the company name, but only in your state. You can also benefit from common law trademark protection because you use your own name in the company. However, this protection only applies to the geographic area where the name is used.
Customers may confuse your company with others with similar names, or a company with a similar name with a federal trademark may force you to change the name or restrict your business to the original location, even if the company was created later than your company. Registration with the U.S. Patent and Trademark Office provides you with national rights to minimize the chance of problems when deciding whether to update.
Working with a business law firm can help you fight trademark registration cases in foreign countries. In many situations, local businesses of a country might try to imitate a foreign brand in naming, logo and other brand communication materials. If you are looking at expanding your business to other countries, trademark registrations become very important for you. If you are a business exploring options of hiring the best business law firms, read more.
Trademarks let others know your business
The registered company name creates a halo of legitimacy. Some small entrepreneurs and industrialists fly around, while others are serious about their work. The whole world knows that you fully agree with the brand and want to make your brand reach its best condition.
This does not mean that without a brand, one cannot look serious and professional. Brand name or logo is a difficult problem, but it is big. If you do your best to apply and register your brand, then you can stand out, especially in the eyes of your target customers.
An Inexpensive Protection
As a business owner, if you want to avoid large-scale expansion investments and attract a wide audience, trademark is the best option. The brand protection period is 10 years from the date of application. Therefore, you only need to renew the registration every 10 years.
Trademark is the main asset. Before spending a lot of money and time to build a new brand, promote and enhance the brand, you need to do some brand research first. This ensures that the trademark you are trying to use can be registered, will not infringe the rights of others, and will not violate any applicable laws.
Do your best to make your product or service instantly recognizable, memorable, and build a positive relationship. Protect your brand by legally registering in the market where you want to do business, such as text, logos, slogans and product packaging. When you make full use of your trademark rights, you will gain a competitive advantage.