Discover the Top 7 Benefits of Trademarks for Your Business
What you need to know (in a nutshell)
- Trademarks are a powerful communication tool that can convey information about a company’s reputation, products, and services through a single brand or logo.
- Trademarks make it easy for customers to find and distinguish a business from its competitors, influencing purchasing decisions.
- Trademarks are a valuable asset that can appreciate in value over time, can be bought, sold, or licensed, and can be used to secure loans to grow a business.
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Everyday, we all encounter trademarks without knowing it. Sometimes a “trademark” is another term for brands.
Consumers’ buying behaviour is affected by trademarks and their associations. Business owners should be aware of the significance of trademarks to expand their business; here are seven major explanations why they’re advantageous.
Trademarks provide effective communication
Trademarks are advantageous for conveying ideas and emotions about an individual, their company, goods/services and image. In a single brand or logo they efficiently communicate this information.
Trademarks don’t need to be words. Logos are universally known, even if the culture doesn’t use a Latin alphabet or speak the same language (e.g., Nike’s “Swoosh”).
Trademarks can help customers find you easily
Trademarks help customers locate businesses in a crowded market, making it easier to differentiate from competitors. Trademarks/brands are effective for conveying commercial messages and drawing customer attention, allowing companies’ goods and services to shine.
Viewing a trademark tells customers who they’re dealing with, and the standing of your business and reduces their desire to seek out alternatives. Your brand may be crucial in influencing a customer’s decision to buy.
Trademarks let businesses efficiently use the web and social media
When looking for your goods or services, customers enter your brand into a search engine or online forum (Facebook, Twitter, Pinterest).
Increased website or social media traffic leads to better rankings, attracting more customers and increasing public awareness.
Trademarks are valuable
Trademarks are an invaluable asset that can increase in worth as your business grows. Branding recognition strengthens their value.
Trademarks can add value to a business beyond its main operations, enabling it to move from one industry into another e.g. cosmetics to apparel or eyewear, and even leading up to the purchase of the company by a larger firm if desired.
Trademarks are akin to real estate in that they can be purchased, sold, licensed or used as collateral for a loan to expand one’s business.
Trademarks can aid recruitment, as they evoke positive feelings which make the job more appealing. Such sentiments towards a brand and its offerings could also lead to higher employee retention rates.
A trademark isn’t expensive to register, relatively
The USPTO charges $275 to register, with follow-up fees of several hundred dollars every five and then ten years. Other trademark offices of other countries have similarly priced official fees.
Trademarks don’t expire
As long as they remain active and renewal fees are paid, no expiration will occur. Many well-known brands have had enduring success for many decades - Mercedes’ registration dates back to 1900 and