Trademarks are important for your business in more ways than you can imagine. Whether you are just starting out or you are veteran businessman, these marks make sure that you grow more.
Have you ever heard of a phone called “The phone” that allows you to download applications called “the games” and play games? Of you might have heard of a thing that is a tasty cheesy treat on bread called “food”? No? Well of course not! Unless you know the name of the product, the word “phone” only has a simple meaning. It won’t tell you what you want to buy and what you want to do with it. Why naming is so important? It is all because of the importance of trademarks for your business.
The mentioned above is not the only reason as to why Trademarking is so important to you. So let us not look into the 9 reasons why trademark is important for your business.
1. Trademark combines all in one:
Once you trademark your product your service, all of your identity becomes united under the flag of this mark. Your online presence, your products, your appeal to the people becomes much more identifiable with one name. This unification has many perks like marketing, appealing to the customers.
2. Trademark is an asset for you:
Once you register the trademark, it becomes an asset for you. This asset’s value increases with the value of your company. As a trademark is the face of your company, there might come a time that your increased reputation might increase the value of the trademark far more than your other assets.
3. If you have a trademark, you can access to the brand marketing strategies:
You can say that a trademark is the brand that represents your company. To that end, once you have a trademark, you can indulge yourself with brand marketing strategies that would make sure that your business grows further and further.
4. A trademark is able to communicate your product to the people:
Once you have your trademark registered, you would be able to communicate your product to the people. This means that through your trademark, you would be able to connect with the people.
You can also Licence your Trademark to someone else for the limited period: Trademark Licensing in India
5. A trademark mark makes it easier for companies to bring in new human resource:
Imagine your company being called “some company” ad than think how many people you can actually hire. You can’t, can you? This is because having a word-mark associated with your company makes it more approachable to the people who are looking for jobs. If you have proper brand appreciated with your business, it would you look legit in front of the youth who are looking for employment.
6. Trademark registration protects you from getting infringed:
If you have registered your brand, you will be protected against the infringers. If there is a business out there who wants to ride the wave of your success by using your trademark, they can’t. If they do, you can sue them for all they own.
7. Trademarking nurtures loyalty for your business:
If you have a trademark associated with your product or service, your customers would connect with you at a better level. Consequently, if your services are up to the mark, it is easy to nurture customer’s trust towards your brand.
8. If you have a trademark, you have an option to expand your business:
One of the most underrated aspects of the trademark is expansion of business. Trademark registration allows you to expand your business beyond your original horizons of expertise.
9. Trademark compels you to deliver:
You register your trademark so that you can be known to the people in the maximum measure. As your value grows, so does your accountability to the people. Soon, you would be compelled to provide good services to the people in order make sure that your brand’s reputation stays high.
The above mentioned are merely the tips of the icebergs when it comes to the matter of importance of trademark for business. There are many others and talking about them will take us into much deeper aspects of marks that we would rather discuss in other blogs.