Everyone deals with trademarks in one way or another. Some know, some don’t. The name is simply a synonym or another way of referring to brands.
Trademarks are essential assets in a business. This is because a consumer’s purchasing decision is influenced by the reputation a trademark presents for the business that holds it. People must understand the weight it carries.
Trademarks are a tool of communication. It doesn’t have to be a word. It can also be in the form of designs that can be recognized regardless of a persons’ language. for example, Adidas or Nike, are brands that are known globally simply by their logo designs. Trademarks convey intellectual attributes and messages about the company, its reputation, products, and services.
It’s a marketing tool. The business world has immensely grown, and for one to have a business that lacks competition is impossible. Markets are overcrowded and trademarks are essential tools to capture potential buyers’ attention. This makes your business and its products stand out, depending on how strong your trademark is.
They allow people to locate your business on internet platforms. The moment someone is interested in your products and wants to search them on the internet, what does one enter on the search engine? It’s the brand of your business. High traffic on websites translates into higher rankings that bring more recognition and more customers.
Trademarks are valuable assets. They appreciate in value over time. The more your business reputation grows, the more valuable your brand becomes. This can lead to the expansion of your business from one industry to another or even the acquisition of your business by a larger corporation.
They act as security. Registration of trademarks adds value and certainty to the company’s rights for investors and buyers. It protects your business’ mark from third parties, such as suppliers and business partners, before using the mark in a foreign jurisdiction.
Trademarks make employment easy. We know that trademarks can convey emotional attributes. As a result, a brand can inspire positive feelings in people’s minds. This makes hiring more attractive to candidates who wish to be employed in your company. Also, retaining an employee can be very easy provided the employee has a positive feeling towards the brand where he/she works.
So, keep in mind that the choice of a logo and name of your business is very important in protecting you from the competition, as well as set the mark for the growth of your business.