In a hyper-competitive world, standing out is vital for your business. You need a brand that customers will easily recognise and trust. You may not realize it, but we are constantly dealing with brands and making decisions based on brands. Consumers frequently make purchasing decisions influenced by trademarks and the value of the underlying brand. Well, trademarks are simply another way of referring to brands, and they are vital for the success of your business. As an entrepreneur, you have to understand what trademarks are and why they are important.
What is a Trademark?
A trademark is a piece of intellectual property. It can be in the form of a sign, expression, or design and is used to identify products or services from one company from those of other company’s. A trademark can also be a business name.
A trademark owner can be a business, or an individual, or any legal entity.
Trademarks are usually seen on packaging, labels, vouchers, or on the product itself.
Why You Need a Trademark
- Trademarks are effective communication tools. With just a sign, like Nike’s swoosh, or phrase, or design, your market can easily recognise your business.
A trademark communicates your business’ values, its purpose and the kind of customer experience that consumers can expect. It arouses an emotional and intellectual response on the part of the consumer. When, for instance, you see the Apple logo, you immediately think of high quality products, minimalistic design and a seamless ease-of-use.
Without a trademark, it is impossible to stand out in a competitive marketplace.
For businesses that operate globally, a trademark has the added advantage of existing beyond language. A person who speaks Russian, or Chinese, or French, or Greek can easily recognize your trademark, without any need for translation.
- With a trademark, customers can find you easily. The internet has turned even small corner stores into potentially global companies. With global markets come global competitors. Your customers have so many options out there so they need something that helps them find your business, because they will make their purchasing decisions based on the trademarks they know and trust.
Trademarks help you capture customer attention. They help your business and its products and services stand out. When customers see a trademark, they immediately get an emotional and intellectual response. The trademark communicates to them and tells them that it can be trusted.
If you want to drive consumer decisions, you need a trademark.
- Trademarks are valuable. Intellectual property is an asset, just like a building or piece of machinery. When you register a trademark, you ensure that your brand has legal protections. Nobody else can use your brand without infringing on your legal and economic rights. With trademark protection, your brand has no economic value, because anyone can use it. So no matter how hard you work, or how good your product-market fit is, the economic value of your brand will be zero.
How to Register a Trademark
Registering a trademark is often a complex and fraught process and for companies competing across jurisdictions, the process becomes even more complicated. But this process can be dramatically simplified with Patentoid service. You can register a trademark for the European Union, United States, and other jurisdictions, all at the same time and online. Patentoid is transforming the trademark registration market and you can be one of the beneficiaries of its revolutionary new online process.