Four reasons why it’s so important to get a trademark
Have you trademarked your business yet? Here are four reasons why it’s important to do so.
Although you may not realise it, you and virtually all other people in the world deal with trademarks daily. In essence, the word “trademark” refers to branding, and consumers who are looking to purchase products and services tend to be heavily influenced by them due to the inherent value and reputation trademarks hold.
Think Coca Cola, Nike and McDonald’s – all massive companies that have instantly recognisable trademarks.
It is important for anyone dabbling in business to have an understanding of why trademarks are so vitally important. After all, they help to establish your business, build a reputation, and grow over time. Getting your trademarking sorted early on is something which any serious businessperson should do – it’s good commercial practice – and it is so easy to do.
Trademarks are a hugely effective method of communication between you and your target market. With a single brand logo or slogan, brands can connect closely with their customers and build brand loyalty. When done well, a trademark will convey messages about your company, you, your reputation, and the products and services which you have to offer.
Whether it’s a word, slogan, logo or another formof design, establishing and protecting a trademark is vitally important.
1) Trademarks make it easy for you to be found
The commercial marketplace is crowded. You don’t need us to tell you that, and it can be hard to differentiate and distinguish your business amongst all the noise from your competitors.
Trademarks are an effective tool for you to do this and massively help with your marketing and commercial communications. They capture the attention of your consumers and help your product and services stand out.
Potential customers who are viewing a trademark which is well-known will instantly know what and who they are dealing with, and if you have a good reputation, the customer is more likely to feel secure in transacting with you. As a result, you end up with an additional sale. They are a major driving factor when it comes to sales.
2) Trademarks make digital marketing easier
On the internet, particularly social media channels, the very first thing a potential customer will see is your visual trademark. When searching for you, customers will search for your brand and track you down by looking for a recognisable trademark or slogan.
By using your trademark on the internet, on social media, and within your digital marketing, you make it a lot easier for potential and past customers to find you. This results in higher traffic on your website and social media pages, and this translates into higher rankings, more traffic, more conversions and growth in the long-term.
3) Trademarks deliver plenty of value
Over time, a successful trademark will deliver with it a lot of inherent value. You can think of your trademark as one of your business assets, similar to real estate or inventory, and they can be bought, sold, leased, licenced or assigned as appropriate.
They can also be used to secure funding and capital as a security interest. They provide so much more value beyond the core of your business and can quite easily help you expand when utilised properly.
A trademark is arguably the most important and most valuable asset for any business – what would McDonald’s be without its golden arches? – and they can be used as leverage in commercial trades and deals.
4) Trademarks don’t have to cost much
In the grand scheme of things, registering and paying for a trademark is a relatively cheap process, especially when compared to other costs associated with establishing and operating a business, and they can be obtained for as little as £200.
It’s a very straightforward process which can be carried out quickly, simply, and with ease. With trademark registration, you don’t need any prior or specialist knowledge and there are several companies out there such as TMA who provide a competitive registration service, which provides global protection and requires little input from you.
Given all the above and the legal protections which come with a trademark, paying around £200 to protect your interests is a no-brainer. There is so much to be gained by having a trademark registered and any person who is starting or currently operating a business who is serious about its long-term success should make sure that they get it done as soon as possible.
Is it time you trademarked your business?
Trademarks are nothing new; they are widely recognisedand many of us deal with them each day. Despite this, some business owners aren’t aware of their importance or are reluctant to get one – sometimes at great cost.
Trademarks provide so much protection and so many benefits, yet they can be obtained relatively cheaply and quickly. They are possibly one of the most important investments you can make as a business.
Photo by Daria Nepriakhina