Why Trademarks are at the Heart of Every Business28-11-2017
We use Trademarks as a part of everyday life, often without realizing it. They are usually referred to as a “brand”.
Trademarks are at the core of every business. They are the primary means to distinguish the goods or services offered by a business from those of its competitors.
As an invaluable asset of any business, the importance of Trademarks cannot be stressed enough. They help provide an exclusive brand image for its products or services, creating its unique identity in the minds of the consumers and helping in maintaining loyalty.
Trademarks are also an effective tool of communication with the target market of a business. They help to build the goodwill and reputation of the business among its consumers, helping it to clearly convey the attributes of its products or services.
The importance of registering a Trademark
The primary benefit of registering a Trademark is to show the proprietorship of the business over its products or services. It helps to retain exclusive rights over the products or services of a business, including the powers to use, sell or modify the same.
Failure to register the Trademark poses great risks to a business because it can give the right to others to register its distinctive brand. Besides the costs involved, this can prove highly damaging to the brand as well as the reputation it has garnered. It also makes an enterprise legally incapable of growing its own business.
Hence it is advisable for every business, irrespective of its size to register its Trademark to ensure protection from exploitation.