A trademark for a company is as important as a marketing strategy, which ultimately helps to succeed in long-term plans. Trademarks protect brand names, logos, slogans and other intangible property of a company. Trademark owners can stop other people from using their mark on the same or similar goods or services. A trademark is a word, phrase, symbol, logotype and/or combination of these that identifies and distinguishes the source of the goods and services of one party from those of another.
Trademarks are key to giving your business a distinctive character, allowing it to distinguish from the rest. Trademarks enable consumers to make quick, confident and safe purchasing decisions. A trademark is what helps to recognize your products and services in the competitive market. They have the ability to capture the essence of your brands and the energy, investment and know-how that goes into them. There are various roles a trademark can play in a company, and all of them are crucial to the success of your business.
All the value of a brand – its philosophy, know-how, its staff, its products, its intangible assets – is encapsulated in one symbol: its trade marktrade mark is the legal embodiment of everything your brand stands for. Trademarks are signs used in trade to identify products. Your trade mark is the symbol your customers use to pick you out. It distinguishes your company’s products and services from your competitors. You can protect and build upon your trade mark if you register it. A registered trademark will prevent and stop third parties from using your trademark and allows you to take legal action against anyone who uses it without permission, they have stronger legal brand protection. Unregistered trademark may enjoy copyright protection and can be protected in jurisdictions affording protection based on trademark’s use in commerce, otherwise it only gives the opportunity to third parties to register it before you and prevent you from continuing to use it. Even for those countries where unregistered trademarks are protected you are well advised to register it in order to obtain the best protection.
In a nutshell, trademarks can lead you to a start of a successful business, because:
• Trademarks play an essential role in protecting your brand as well as consumers and in promoting your company’s growth;
• Strong and distinctive trademarks enable consumers to make quick, confident and safe purchasing decisions, which helps your company to promote its sales and expand the business;
• Trademarks and related intellectual property encourage vibrant competition for the benefit of consumers, workers, brand owners and society at large.