6 Reasons to Register Your Business Trademark
Trademarks are names, symbols, logos, designs and sounds that make your business or product unique and distinguishable. They are also a symbol of an assurance made by a business to its customers. Though it is not necessary, it is always a good idea to register the name of your business as a trademark. This is to ensure that if another business attempts to use the same or similar name, you have the right to stop such infringement.
Notably, a trademarked name marks all your products and services as your property and also protects you from counterfeit products. Therefore, it is imperative for you to understand the importance of trademarks in your business. Here are the top six reasons why trademarks are important for your business:
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1. Help Locate your Business
Today, when the market is crowded with competitors, trademarks make it easy for customers to find your business. Notably, trademarks are a well-organized and commercial way to pique the interest of the customer.
2. Act as a Communication Tool
With the help of trademarks, you can communicate the idea of your company, its reputation as well as the products and services. They help you communicate easily and successfully across borders, cultures and languages.
3. An Indispensable Asset for your Business
Trademarks are one of the most valuable assets of your company as they can appreciate in value over time. Notably, trademarks offer value beyond your core business. For instance, they can lead to business expansion, such as from household products to personal care. Additionally, trademarks can also lead to business acquisitions.
4. Gauge Business Ranking
The advent of social media has made it easier for customers to search brands online. In fact, your brand is the first thing customers enter into a search engine or social media platform such as Facebook, Twitter, etc., when searching your products and services. Higher traffic on a particular website or a social media platform translates into higher rankings. This in turn increases traffic, brings more customers and boosts brand image.
5. Act as a Hiring Tool
It is a well-known fact that popular brands inspire positive feelings in people’s minds. Therefore, opportunities for employment in such organizations seem extremely attractive to candidates. For instance, Coca Cola would be a preferred employer over any local brand for a candidate, owing to its brand value. Furthermore, if employees have positive feelings for the brand as well as their products and services, the attrition rate is more likely to drop.
6. Hold Indefinite Validity
The validity of a trademark is typically ten years. However, it can be renewed for an indefinite period on payment of additional fees. As far as your business investments go, nothing provides more long-term opportunities than a trademark.
While trademark registration is crucial for your business, exhaustive trademark search must be performed beforehand to avoid trademark infringement and subsequent lawsuits. At Sagacious IP, we offer best-in-class trademark searching and monitoring services that help you focus on your core business. For more details contact us.
-Aditi Yadav (Trademark) and the Editorial Team