In today’s era where creating pirated and counterfeit products is easy, trademarks play an essential role in consumers’ buying decisions and brand legitimacy. It distinguishes your business from the competitors and enhances its reputation.
Many big companies like Vaseline, Jacuzzi, and Band-aid have not only registered their names as trademarks but also their design and products. Therefore, consumers—including you—associate these trademarks with the products and not the respective brands.
Whether you own a business or are planning to, it’s essential to understand the significance of trademarks in brand protection and business growth. Here are five reasons why trademarks are important for your business:
Attract More Customers
Whatever you are selling, chances are there will be a lot of competitors in the market offering the same service or product. Trademarks can help capture customer attention, and they’ll choose your brand over others. It will be easy for people to recognize your brand in the overcrowded market, and they’ll less likely go to a competitor.
Eliminates Legal Issues
If your business isn’t registered as a trademark, it increases its chances of facing lawsuits from trademarked companies under a similar name, logo, or design. Even if there is no such company at the present moment, there can be in the future. The lawsuits will force you to change your name or design, affecting your brand’s identity.
Offers Brand Recognition
No matter which part of the world you go to, people will immediately recognize the Nike brand with its trademark “Swoosh” design. Trademarks may look like a simple design or name, but they effectively communicate your brand message. They convey the emotional and intellectual attributes of your products and services.
A Valuable Asset to the Company
Your trademark can increase the value of your business with time and attract more customers. It can also allow your business to enter new product lines and markets with a recognized sign or name. Like other property assets, anyone can buy, sell, and license a trademark. If you wish to secure a loan for your business, you can use the trademark as a security interest. All this makes it a valuable asset for your company.
Lasts for a Lifetime
Besides a 10-year periodic renewal, a trademark can last for a lifetime, securing your business’s unique identity. All the companies with trademarks have been in the industry for decades, and generation after generation uses their products. If you also want your business to grow and sustain for decades, you must register its trademark.
Advanced technologies have made it easier for cybercriminals to even counterfeit trademarks. Therefore, we offer trademark monitoring services to take down infringing copies from the web.