The Benifits of having a Registered Trademark
Simply put, if you don't register your trade mark then someone else can. This immediately puts your business at risk and any product or service development you are undertaking. Securing a registered trademark protects your brand by allowing you the tools to prevent someone using similar signs / trademarks and riding off the back of your business. If you do not protect your trademark by registering it then you may find you are legally prevented from expanding your business. With your brand registered, you are within your rights to take actions against any other parties who have attempted to register conflicting trademarks or, importantly are operating with conflicting brands and damaging your business.
As your product or service becomes successful, the trademark itself starts to develop an intrinsic value. Business investors will assess in due diligence whether you have taken the appropriate legal trademark protection to secure your brands.
So in effect there are three reasons why it is important to register a trademark.
Defensive: Avoiding Unwelcome Change
Changing the name of a company especially when you have built up a good reputation is a difficult and costly task. It can take significant marketing pounds to rebuild a renamed brand. When a logo, symbol or name is unregistered there is always the risk that another business may register it and cause significant difficulties perhaps by legally attempt to prevent your business operating or expanding under that name.
Positive: Building value
Because of the above investors for security reasons will always look at whether a business has trademarked its name, key products or services. Doing so is certain to positively impact the perceived value of the business and aid clarity in any merger or franchising of the business.
Positive: Protection
Ensuring your business is appropriately protected against competition. Unauthorised parties who use your trademark without authorisation can damage your brand, your reputation and your business, but they are often in a legally weak position and can be prevented from causing damage relatively easily. So in effect you are building a barrier to entry around your brand which will make it harder for any other business to attempt to imitate you.
It is important therefore that your business is appropriately protected firstly in the countries it operates in or intends to operate in, and secondly protected in the correct classes of service or products you provide.
To begin the registration of your business, or to check to see if anyone has already registered it just click here.
