Consumers are exposed to trademarks on the daily. Some famous trademarks include Apple, McDonald’s, Coca-Cola, and Google. Consumers subconsciously regard popular trademarks as actual products rather than their respective brands. Thus, trademarks hold considerable value and can help your business grow.
Startups and small businesses can come up with unique words, phrases, or symbols to set themselves apart and create a connection in the consumers’ minds to a specific product or service, thus building customer loyalty. Trademark registration also helps protect a brand’s intellectual property and prevents infringement.
This article will discuss the importance of trademarking for your business. Let’s get started!
Averts Legal Issues
When a business doesn’t register its trademark, a brand with a similar word, slogan, or symbol can file a lawsuit, which means the business would need to change its whole marketing approach and any website content or packaging material they have created. That’s why you must hire an attorney early on so they can advise you with regards to the registration of your trademark and protect you from infringement.
Builds Brand Identity
A trademark is invaluable to your brand’s identity. If you have developed a unique product, you need to set yourself apart earlier on and develop a unique name, slogan, or symbol to help consumers distinguish your product from others. The same goes for similar or already-existing products.
Memorable trademarks will help distinguish your brand and protect your intellectual property. Remember, trademarking is different from copyrights. You can’t protect names, slogans, words, or symbols in copyrights. Copyright applies to fiction novels, visual art, or music composition.
Allows Businesses to Utilize Social Media
Brands with registered trademarks can freely use their logos, symbols, slogans, etc., without fear of infringement on social media. Moreover, an adult spends over 95 minutes per day on social media channels and uses them to search for products. A recognizable trademark will help your business stand out in the sea of competitors leading to increased traffic, higher rankings, conversions, and brand recognition.
Adds to Company’s Assets
A startup or small business can benefit from trademarking to build brand recognition. For instance, as your business expands, you can use your trademark for marketing purposes to build brand awareness and create a connection between your products and services so consumers know who they are buying from.
Moreover, once your brand gains a positive reputation for its goods and services, your trademark will be associated with how your business is running and will help you introduce new products and services or attain more value if you put your business up for sale.
Incentive for Employees
When registering a trademark, you need to maintain a positive reputation since your products and services are connected to your brand. A positive reputation will also encourage people to work for you or with you, thus increasing your brand’s value. A trademark will also be an invaluable asset when you want to grow and apply for a business loan.
Helps in Expansion
Another benefit of trademarking your business is that you can use your registration as a basis to file for trademark registration in foreign countries. Thus, you can expand your business and avoid legal lawsuits.
Now that you know the importance of trademarking your business, we recommend hiring an attorney to help you with the registration process. Reach out to Trinity Trademarks. From registration advisability to clearance search and monitoring, we help you every step of the way. Call now for a consultation.