Reasons Why Trademarks Are Important for Startups
We live in an age and time where we are bombarded with trademarks during every passing second of our lives. Consciously, or otherwise, they insinuate their way into our daily tidings and subsequently influence and shape our buying decisions as well as various other business transactions. In the greater scheme of things, if you come to think of it, our psychology doesn’t really associate itself as much with the range of products and services of an organization as much as it does with its trademark and brand value. All the big brands that you know of today, owe their presence and visibility to their trademark attributes that they fostered and nourished carefully over the course of their existence.
Why are trademarks important?
Trademarks are chosen names, designs, slogans or expressions that are meticulously aligned with a company’s core vision and values. Prudent decisions by owners to register the entire bulk of a company’s trademarks at inception helps to eliminate fraud, misrepresentation and many other forms of liability from their business paths.
This process of nurturing and safeguarding your trademark assumes all the more importance especially when you are a startup and are planting your very first steps within the corporate ecosystem. In a marketplace that is as cut-throat as it is overwhelming, it is vital for startups to insure all of their trademarks, trade secrets and copyrights by roping in a skilled intellectual property attorney of their choice. Consequently, it not only allows them to go about their business activities in a hassle-free manner but also lets them stay ahead of the curve at all times.
Given below are a few reasons which highlight the significance that trademarks hold with respect to a startup business or organisation.
Establish Brand Recognition:
At the outset, and above anything else, trademarks are important for startups, as they help them create and carve out consumer brand recognition, eventually leading to greater goodwill and increased sales. By registering your trademarks, you not only provide your startup with the security of its brand, but also establish a unique identity for it in the process. This unique identity helps to distinguish your goods and services from those of others in the minds of consumers, and registering your trademarks significantly helps to prevent rival companies from stealing or copying creative, distinctive elements from your brand.
Foster a positive reputation:
When you are a startup, it can often get difficult for you to recruit employees in the beginning. Despite the promise of your vision and the novelty of your organization’s work, it can get a tad bit challenging for you to generate the requisite credibility to attract and build the necessary talent pool for your firm. This is where trademarks come to the rescue.
Not only do they help your organization garner a positive reputation, but they also act as the necessary incentive for talented and skilled individuals to seek employment opportunities at your company. This philosophy assumes greater importance especially when the expansion of your business venture, and that of its core operations, is concerned.
Steer clear of legal issues:
Starting and maintaining a company is no child’s play. Apart from including the vital technical and logistical components, it also includes a horde of vastly tedious paperwork. Subsequently, should you fail to cover all of your legal bases effectively and leave room for glaring loopholes, you will find yourselves tangled in multiple legal issues and hassles and waste a ton of valuable time in the process.
When you do not register a trademark for your business, you essentially leave yourself vulnerable to lawsuits from other businesses who might have registered one under the same or similar logo, slogan, name, or design as yours. Consequently, by registering a trademark you not only safeguard your startup from other companies but also exercise the right to push a particular company to make the requisite alterations and modifications, should their brand identity happen to imitate yours.
A stamp of permanency:
One of the greatest benefits of using an intellectual property attorney to register your trademark is the fact trademarks are one of the few forms of intellectual property that can last forever. Besides requiring a periodic renewal, a trademark entails no other tangible hassles whatsoever.
Subsequently, it gives your brand the desired credibility as well as the credibility to establish itself as a giant in its domain of operation and carve a reputation for itself which is as imposing as it is long-lasting.
A company’s most prized possession:
A trademark is without doubt, a company’s most valuable and prized asset. Not only does it act as a catalyst for boosting the valuation of your startup business, but also plays a crucial role upon its maturation and at the time of its expansion.
Ranging from marketing strategies, to improving brand recognition exercises, having a trademark at the helm of these operations makes matters much more convenient for the business in consideration. Additionally, trademarks are especially crucial when the startup is on the lookout for diversifying its range of products and services or when it wishes to navigate into franchising via licensing.
Opting for Trademark.Legal:
Located in Los Angeles County, California, Trademark.Legal is an experienced and renowned law firm that is committed towards helping both individuals as well as businesses grow, protect, and enforce their trademark and intellectual property rights in a competent manner. Our team of highly experienced trademark attorneys help you accomplish this objective by providing you premium, trademark legal counsel at cost-effective prices. Contact us at info@trademark.legal for a consultation with a seasoned intellectual property attorney.