Seven reasons why trademarks are important to your business

Last updated on May 9th, 2021 at 03:59 pm

Seven reasons why trademarks are important to your business

1. Trademarks Establish your Brand to Stand Apart from Other Brands.

A trademark should always be unique to your brand. We can take an example of assuming your logo as your trademark, however, if your logo is very basic & simple, then your brand needs to be given a separate identity to distinguish it from anyone else. By having your distinct logo, anyone can easily identify which brand your product belongs to. For example, when you see a silver color half-bitten apple on any device, be it a laptop or a phone, you can easily identify that it’s an Apple product.

2. It Makes Your Brand Unique

As per the assumption, every business needs a logo that stands out and is easy to recall or understand rather than having a logo that is difficult to remember and does not even explain your brand. Hence, every business would opt for the former. The reason for this is self-explanatory.

3. Trademark is Forever

A trademark does not require any renewal or re-registration at any point in time. Once a trademark is registered it will be in your name forever. No other entity can claim the same name ever.

4. It Safeguards your Product’s Name

If you have any registered trademark, you can quickly show your ownership of the product. Having a registered trademark also allows you to utilize all the products registered under your ownership. It proves that the product belongs to that particular brand and you have the right to sell, modify, or use the commodity in whichever way you want.

Mercedes was first registered in 1900. Pepsi-Cola was registered in 1896.

5. A trademark Helps in Business Growth

If you are new to this business, then there are higher chances of failure, but if you have your registered trademark, people would trust your brand no matter which field you are expanding in. So, let’s say your organization deals in computers but after putting in some lucrative hard work you might be thinking to expand your business and venture into the video or audio hardware business as well.

6. Trademarks can be valuable

What if it is declared that trademarks can be valuable? Well, as your business grows over time, the value of the trademarks gets scaled up automatically. So, if your business grows, your trademark also grows in value.

7. Trademarks can make hiring easier

Brands can inspire positive feelings in people’s minds. As a result, employment opportunities are more attractive to candidates. Employee retention can be higher if employees have positive feelings for the brand and the products and services offered.

Brands are a critical asset. Do your due diligence before investing a lot of time and money in launching a new brand. Be sure the brand fits your company. Obtain a clearance search to make sure your new brand is available and doesn’t infringe on anyone’s prior rights.

 

Disclaimer: The above content is for general info purpose only and does not constitute professional advice. The author/ website will not be liable for any inaccurate / incomplete information and any reliance you place on the content is strictly at your risk.

Follow us on Social Media by clicking below

Follow @financepost_in