Trademarks convey demonstrative and rational attributes of a business, its vision, and the products and services it offers. It effectively communicates with the customers and persuades them to buy that specific brand. Trust is vital for any business to survive. It espouses the professional reputation of the business and cultivates the reputation and name for the organization, thus earning the trust of the customers in the long run.
It is essential to protect the unique designs, logos or products created and owned by one’s business by registering them as a Trademark.
What is a Trademark?
It is visual symbol which may be a word, name, device, label, symbol, numerals or combination of colors that identify the origin or ownership of certain product/products or services to distinguish it from other goods and services. They legally earmarked to be used exclusively by the owner of those products. Its registration applies to specific uses and is limited to a specific geographical location (territorial in nature). For example: the usage of certain symbols to market a specific set of products indigenous to a state or a country. It permits the owner to use it for a specific set of goods that can be sold only in the region mentioned. These marks are allotted according to its classes.
Why register for one?
Upon registering it at the United States Patent and Trademark Office (USPTO), a countrywide priority to use this mark in aggregation with one’s products and services is obtained. Not registering it of one’s business will restrict the usage of the particular mark in that geographical region.
Gives you an upper hand from one’s competitors
Trademarks once registered cannot be copied until the owner of the it actively uses it. If other businesses or competitors try to copy the trademarks (without the consent of the owner), there exists a likelihood of confusion amongst the customers, thus leading to infringement of it. The infringers are liable for prosecution and may end up paying hefty amounts as compensation to the actual trademark owner and may also attract additional liabilities.
It helps a business grow
Having a registered trademark also helps in the growth of a business. Say, for instance, if a company deals in appliances and it wishes to amplify its business to furniture (another class of Trademarks), then the familiarity of the brand is an added advantage. This is because the brand has already earned the goodwill of the customers.
Customers can easily locate you
The market is huge, and there are new businesses that come up every single day. It can be hard for the customers to distinguish one’s products from other competitors. They are the best tools for communication. They easily get the attention of one’s customers, and they also make one’s products, services, and one’s business stand out from the crowd. When the customers see one’s trademark, they instantly are aware of the quality of products or services they would expect from one’s business. It is a significant factor in the decision-making process of a purchase.
It makes marketing on social media an easy process
Nowadays, social media has emerged to be one of the most important marketing tools for any business. There are thousands of other businesses that are marketing their products on social media. Registering one’s trademark enhances the quality of the brand. Customers recognize you from this trademark. Very less effort goes into promoting one’s business once the brand name gets familiar or is famous with the customers.
Trademarks are a valuable asset
As one’s business grows, the appreciation value of the trademark grows too. The growth of one’s business reputation adds to the value of one’s brand. The value offered by the trademark is more than a core business value. The number of trademarks registered with a company denotes its expansion, like from baby products to clothing or home appliances. It plays a vital role in corporate decisions like mergers and acquisitions.
Dream of an Employee
Brands trigger prejudices regarding the product in the customer’s mind. People want to be associated with companies that are recognized. Not only can you hire good talent, but retaining the employees is also very easy. Employees look forward to being associated with good brands.
It is not expensive
It can be obtained from the United States Patent and Trademark Office (USPTO). A simplified database for trademark search and a streamlined procedure helps one to obtain it easily and economically.
As a long-term investment
Once registered, it stays with one’s business till it is actively used. Brands like COKE and Mercedes have been using it for over a hundred years now.
Use of ®
Businesses can proudly use ® along with one’s brand name once their product is registered for trademarks. This strengthens customer-client relationship amongst other benefits.
They are an effective communication tool where a lot goes with the customer without saying. They ensure that the customer client relationship is trustworthy thus curbing unfair competition and preventing confusion in the market.
Other Article: Step-by-Step Guide to Trademark Protection by Team Inc42
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