In the world where one can easily drown in the sea of competitors fighting to survive, a trademark could quite possibly be the burning light of hope that segregates your brand from the rest of the swarm. Pioneering a thought, concept, product, or service can be a breakthrough. Imagine millions of customers effortlessly accessing a particular product or service because you were determined to burn the night light and come up with some awe-inspiring, brainstormed conceptualizations. Now, imagine your hard-work and toil being mirrored by someone else just because you didn’t follow through the patent procedures – wouldn’t it simply be talent gone to waste?
A Trademark for a brand need not be tangible. A trademark can be anything- a particular logo, a particular color combination, a particular tagline or an exclusive greeting line. A trademark, in business lingual, literally translates to anything that creates a profound impact and connects your brand to the rest of the customers through that one particular possession of yours. Maybe this is why, in 1999, the constitution refined the Trademarks Act allowing trademark owners to reap the benefit of their talents without compromising on originality and uniqueness.
Here’s a run-down of why getting your trademark registered is absolutely necessary for your thriving business- especially if we’re considering startup law in the mix.
Absolute Control of Rights
A trademark registration gives you absolute control over your marketed products and services, allowing you 360-degree control of your products in the market. The current economy of our company now faces perfect competition as opposed to monopolistic market trends with each brand, product or service, now having a set of their own competitors, struggling to be the best of the bunch. A registered trademark at this time can give you exclusive rights to your brand, product or service.
Absolute Control of Legal Matters
A registered trademark not only promotes sole proprietorship and independent decision-making but also promotes authorization in legal terms. Because of this, an IP lawyer paired in your registered trademark can create quite an empowering case when infringement or violation of the trademark law is taken into account. Moreover, a trademark legally bounds you and your board members to the brand allowing the organization or brand to single-handedly supervise their legal matters without involving any third party brands in the decision-making process.
Enhances Brand Retention and Goodwill
A trademark usually signifies trust, something that customers in today's market are desperately seeking. Every consumer enjoys the privilege of interacting with a secured brand that they can put their trust in and that is exactly what your registered trademark stands for you. Your trademark will be the emblem for trust which, in turn, promotes goodwill amongst your customer. This is thus, considered one of the stepping stones to creating a steadfast market footprint.
Improved chances of Global Footprint
Trademarks can go both ways, both nationally and internationally. Now, while focusing on the home ground and pushing your sales numbers through the roof is significant, geographically speaking, a thriving business will always be more appreciated and acknowledged globally, if your company can showcase security and proof of quality through a global trademark. This is particularly essential for businesses trying to expand their reign from national waters to beyond.
Pathway to Asset Building
Your trademark, registered legally, will act as an asset for you. As mentioned, your trademark can be the legal bond or security for business loans, with the common knowledge being, a registered trademark acts as an intangible force, something that you can put down as a down payment. Apart from that, your trademark carries the entire brand on its back, making this one of the crucial stepping stones to creating goodwill and capturing customer attention. Hence, if we look at it that way, your trademark is nothing less than an asset for your brand.
Pathway to Effortless Business Propagation
The trademark registered by your company is not only acting as a goodwill asset for your consumers, but for the internal members too which is why a registered trademark is always considered effective for effortless business propagation, not just in terms of sales, but also in terms of expanding the company personnel, reputation, and so on. A trademark, acting as the forerunner for your company can attract fellow companies or potential partners to you, can attract potential talent in the form of aspiring employees wanting to connect with your brand, and so on. Maybe this is why a brand will always gain an added advantage both internally and externally with an empowering registered trademark by its side.