Bond Adams Solicitors act for a substantial number of corporate clients in registering their trademarks and protecting their businesses. Read on to discover how trademarks can benefit you.
If you don’t register your trademark, then someone else can. This immediately puts your business and any product or service development you are undertaking at risk. Securing a registered trademark protects your brand. It provides you with the tools to prevent someone using similar signs and riding off the back of your business. If you do not protect your trademark by registering it, then you may find you are legally prevented from expanding your business. With your brand registered, you are within your rights to take action against parties who have attempted to register conflicting trademarks or are operating with conflicting brands and damaging your business.
As your product or service becomes successful, the trademark itself starts to develop an intrinsic value. Business investors will assess whether you have taken the appropriate legal trademark protection to secure your brand.
There are effectively three reasons why it is important to register a trademark.
1. Trademarks help to avoid unwelcome change
Changing the name of a company can be a difficult and costly task. When you have successfully created a good reputation for your business, it can take significant marketing costs to rebuild a renamed brand. When a logo, symbol or name is unregistered there is always the risk that another business may register it and cause significant difficulties, perhaps by attempting to prevent your business from operating or expanding under its current identity.
2. Building the value of your business
Because of the above, potential investors will always be interested in whether a business has trademarked its name, key products or services. Trademark registration not increases security. Plus it aids clarity in any merger or franchising of the business, positively impacting its perceived value.
3. Trademarks offer protection
It is important to ensure that your business is appropriately protected against competition. Unauthorised parties who use your trademark without authorisation can damage your brand, your reputation and your business. But they are often in a legally weak position and can be prevented from causing damage relatively easily. By registering your trademark you are effectively building a barrier to entry around your brand. This makes it harder for other businesses to imitate you.
There are two key considerations. Firstly, trademarks ensure your business is appropriately protected in the countries it operates or intends to operate in. Secondly, your business is protected in all of the classes of service or products it provides.
For all your trademark needs, contact Bond Adams Solicitors on 01162 858080 or [email protected].