Benefits of Trademarking Your Business Name
Consider a scenario in which every company can use any name they wish, even the names of its competitors. Fortunately, we live in an era where businesses use trademarks to secure themselves and their clients against misleading brands.
A trademark gives its holder legal power over a brand name and its products, preventing other businesses from using the registered trademark.
So, if you want to create a business and launch your services to the market, you should have the name of your company trademarked since it’s the basic security that could be your brand’s redeeming feature in times of legal difficulties.
Reasons every entrepreneur must trademark their brand’s name
It makes your brand uniqueWhen you register your trademark, you get complete ownership of your brand’s name and control of its usage in connection with any product, service, or business. As the owner of your company’s trademark, you have legal rights to use it. Other businesses are prohibited by law from encroaching on your trademark. However, if someone does violate your trademark, you have the legal right to confront them with a cease and desist order, and if that doesn’t discourage them, you can pursue legal action.
Can help you improve your brand’s image and customer trustYour trademark protects your brand for the rest of its life, allowing your company to establish credibility, recognition, and trust via exceptional products and services. Owning a trademark enables you to safeguard your consumer base by stopping imitators from duplicating your items and stealing your customers.
It’s an excellent brand-customer communication toolA trademark covers more than just your business’s brand name; it could also protect your logo, color, kind of text, and other distinguishing branding features. All of these act as a means for your company to effectively engage customers and develop its brand in their minds.
It improves brand recognitionThe market is already saturated with enterprises offering similar goods and services. However, by registering a trademark, you offer your company a distinct identity, making it simpler for your brand to be exceptional, attract customer attention, and flourish on all social media platforms.
Boost growthBy trademarking your brand’s name, you can quickly create your brand’s image and reputation, which will help you recruit top professionals that’d enable you to take your company to new heights.
Offers domestic and international protectionsTrademarking your brand name stops other firms from reusing the same name as yours, even in other countries. This is because, by the Madrid Protocol, your trademark rights are secured by both common law and international trademark law, which ensures protection in jurisdictions where the trademark is registered. This makes it a lot easier for your company to establish its influence on the worldwide scene while maintaining its trademarks.
It’s an advantageA trademark is a valuable asset for your company, and it is perhaps the most valuable asset any brand can have. In case you didn’t know, obtaining a trademark from another brand can be expensive. A classic example is Facebook’s $60 million purchase of Meta in 2021.
Your trademark is the intellectual property of your brand, and it can be used, franchised, rented, sold, or outsourced in any way the holder wishes.
Obtaining a trademark is an essential step that every entrepreneur must take when starting a firm. Trademarking your brand’s name is the most excellent way to get your business off to a good start and protect it from costly legal disputes.
The information provided by A.G. Paphitis & Co. LLC is for general informational purposes only and should not be construed as professional or formal legal advice. You should not act or refrain from acting based on any information provided above without obtaining legal or other professional advice.
For further information please contact us.