So you made something amazing which has never been done before, you are thinking of how rich you are going to be by selling this but there’s one problem: if your product isn’t trademarked then it’s a very real possibility that someone else will sweep you design away from under your feet and you will never be able to see those riches you are dreaming of.
So, registering for a secured trademark protects your brand and product as well as provided you with the tools to stop someone from using similar signs and piggybacking off your business. Slowly as your business will develop, the trademark itself will have a value and it will imbue your business with a reputation which in turn will make investors flock due to the confidence your brand will provide.
All in all, there are many reasons to register for trademarks. They are:
- Brand name change: Suppose you went ahead with your business idea but without registering for a trademark. Your business boomed but suddenly you find yourself in a situation where someone else registered your company logo and this can cause undue stress because it can prevent operations of your company or even prevent it from expanding. Barring mention that changing the name of a company is a Hassel inducing process which involves not only money for name change but also viral marketing campaigns to let customers know about your new presence but overall, a drop in business is almost guaranteed in such cases.
- Value: As mentioned briefly above, having a registered trademark is like a security cover and investors will flock to you especially if you provide them confidence in your brand. So trademark increases security but also adds clarity and transparency in mergers or business deals, all in all, positively impacting the business.
- Identification: The main aim if any business is to reach customers who will buy their products. One way to make this process easy is to secure a design which is uniquely associated with the products offered by your company as a whole. This will result in brand identification which will significantly lower advertising costs since the company’s logo will act as a marker on behalf of the company’s name. It also acts as a very inexpensive protection.
Thus, the positives of registering for a trademark are endless, but make sure that when you register it you take into consideration two areas as well- the place and country you are registering in as well as the line of products you are doing it for. This will aid in striving off unwanted copiers later on in the business cycle.