For people who do not know about a trademark, it is a sign or symbol representing a company, product or service. Having a trademark gives you ownership over a name, logo, or phrase that legally becomes yours. It would protect your company’s authenticity in the market by not allowing any other person to use your symbols or names. Filing a trademark is essential for brand owners to solidify their first move.
- Reasons to have a Trademark
It helps people to recognize your brands. It is highly suggested that new startups and growing businesses use a registered trademark. It will ensure their company’s security. For example, as soon as you see a checkmark sign, you know its ‘Nike’. Similarly, to create a significant impact among the audience, make sure you choose a ‘meaningful’ or a ‘rare’ trademark.
- Since a startup has a limited staff initially, more employees are expected to join soon. It will only happen once the startup has earned a well-respected and good reputation in the market. Everyone would want to choose a thriving and aspiring workplace. Therefore the trust gaining process needs a visual representation and reasonable efforts.
- One huge problem that keeps occurring among various enterprises is due to trademarks. Since not all companies and startups register their trademarks officially. So the companies that do register and get a license to their trademarks get involved in clashes with these new startups who are using symbols or names precisely the same or very similar to theirs. It gives rise to feuds and legal lawsuits. The legal matters favor the company that has used the registered trademark, so the startups face severe losses. In some cases, we have seen certain startups shutting down due to not being able to fulfill these charges and ending up being bankrupt.
- Trademarks are eternal. Once registered with your chosen name and symbol/logo, your company will always have its authentic identity. However, renewal charges are expected to be paid for the smooth functioning of trademarking.
- Filing a trademark and keeping your strategy ready is a great asset. Many brand owners have shared their experiences saying that the company’s name was the first idea that popped into their heads, so they bought a registered trademark and kept it ready for use at any point.
- Trademarks are not only visual representations but also convey a company’s themes and goals to its audience. It acts as a communication channel between the company and the consumers.
Filing a trademark will always be the safest option for your company’s security and welfare. It will give your company the recognition that it needs, so invest in it wisely.