The benefits of having a registered trademark
If you don’t register your trademark, then someone else can. This immediately puts your business and any product or service development you are undertaking at risk. Securing a registered trademark protects your brand, and provides you with the tools to prevent someone using similar signs 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 parties who have attempted to register conflicting trademarks, or 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 whether you have taken the appropriate legal trademark protection to secure your brand.
There are effectively three reasons why it is important to register a trademark.
1. Avoiding unwelcome change
Changing the name of a company can be a difficult and costly task. Having successfully created a good reputation for your business, it can take significant marketing costs 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 attempting to prevent your business from operating or expanding under its current identity.
2. Building value
Because of the above, potential investors will always be interested in whether a business has trademarked its name, key products or services. Trademark registration not only increases security, but also aids clarity in any merger or franchising of the business, positively impacting its perceived value.
It is important to ensure that 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. By registering your trademark you are effectively building a barrier to entry around your brand, making it harder for other businesses to imitate you.
There are two key considerations. Firstly, that your business is appropriately protected in the countries it operates or intends to operate in, and secondly, that your business is protected in all of the classes of service or products it provides.
To begin the registration of your business, click here.
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