Do I File For a Trade mark?
Do I File For a Trade mark?
When starting a new business or organisation, it can be such an exciting time that we forget key processes. Filing your business for a trademark is something that every brand should consider in order to maintain brand consistency and hold exclusive rights to that mark. Regardless of your industry, location, or size of your business, the sooner you file for a trademark the better. Just be sure you’re confident about the element you are looking to trademark, whether it’s a trading name, domain name, logo, or slogan, as it can be a bit of an annoyance to get a new trademark if you change your mind later down the line.
Do I Need A Trademark?
No matter how big or small your brand is, registered protection is a must. Many might assume that it’s not essential or only for large corporations, but trademarks can be for companies of any size including startups, small businesses, and freelancers.
Failing to secure a trademark can put your business at risk as it poses the opportunity for another organisation to take your name, logo, or other branding elements from you. Equally, the more your company grows, the more someone else might try to ride off your success. A trademark however will stop this from happening, allowing you to take action against anyone with conflicting trademarks or harming your business in any way.
Benefits Of A Trademark
As a business grows in success, the trademark itself can start to develop intrinsic value. Think of McDonald’s for instance, the M logo is notorious around the world and can attract customers without the need for the company’s full name on show. A trademark, therefore, has numerous benefits, some of which we’ll explore here.
Trademarks protect businesses from competitors by building a barrier between your brand and the outside world. This way, other businesses will struggle to imitate you or cause damage to your reputation and customer base which can be easily done without a trademark in place. It is better to be safe and protected than risk any external damage.
When looking to expand a business, you might seek the help of investors. Without a trademark registration, investors are less likely to offer funds to support your business as there is an increased security risk. A trademark also provides clarity when it comes to franchising as there is a clear brand identity that can be replicated where necessary. Trademarks, therefore, help build value for businesses.
3. Avoiding Disruptions
Finally, a trademark can help avoid disruptions by deterring other organisations from using the same name. If you have built up an established brand which then gets copied or slandered, it can be expensive to then rebuild a similar success requiring marketing costs and further financing. Having a trademark helps to avoid any disruptions of this kind, leaving you with a strong peace of mind.
Verdict: Is A Trademark Worth It?
Registering your name, logo or other branding under a trademark is the most effective way to protect the investment made and recognition built up in your brand. Whether you’re looking to protect your brand, avoid damaging copycats, or look into long-term investments and franchising, a trademark will be necessary for any event. A company’s trademark is one of its most valuable assets, so yes a trademark is certainly worth it.