In the ultra-competitive world of startups, entrepreneurs embark on their ambitious journeys by pouring out their sweat, soul, and countless hours into developing groundbreaking products or services with the hopes of achieving success. However, amidst the excitement and business of running a startup, the importance of trademark protection can sometimes be overlooked.
Properly safeguarding your startup’s trademark through effective trademark protection strategies can be a game-changer that sets one apart from a fiercely competitive market. Join us as we break down four compelling reasons why trademark protection should be an integral part of any startup’s business strategy.
- Identity Protection
Trademark protection supports a Startup’s effort to develop its identity. A strong brand identity is crucial for separating a company from its rivals, as well as building a relationship of familiarity and loyalty with consumers. The exclusive rights that a Startup has over a registered Trademark could be used to stop third parties from using their marks without authorization, as well as from using copycat marks. This gives Startups tight control over their identity and, as an extension, over their market share position.
- Legal Protection
Trademark protection provides Startups with the legal right to their brand. In other words, Startups that have registered their brand would have a strong legal basis in the event of a dispute. Furthermore, registered Trademarks could also deter other parties from committing infringements which could save your company from the fees and stress of dealing with disputes. It’s important to note that in Trademark protection, the first-to-file principle applies. This means that applicants are first to apply for registration of their marks and are assigned trademark rights and priority, irrespective of whether the Applicants have used the marks in commerce or whether the marks were used in commerce first by others. In short, it’s not only important to register your trademark, but it’s also best to do it as soon as possible.
A trademark registry allows a Startup to branch out and develop to the next level. Owners of registered Mark have the right to license their Mark to other parties, which could offer a window of new opportunities. Licensing could provide Startups with a wider reach for their products/services, offer new income in the form of royalties, and accelerate company growth, among others.
- Added Value
Trademarks can be separate assets with independent value that could increase as the Startup develops and grows. A registered Trademark would also attract potential investors and partners, further increasing and maximizing the economic value of a brand. In short, registering a mark not only ensures the safeguarding of a brand’s identity but also harnesses an intangible asset and increases the overall portfolio of a Startup.
To summarize, Trademark protection safeguards your brand identity as well as providing a wealth of opportunities to further maximize the potential of a mark. It’s absolutely crucial for entrepreneurs to ensure the best protection possible for their brand. We at Am Badar & Am Badar are richly experienced in providing high quality Trademark related services for our esteemed clients. For more information regarding Trademarks and other regimes of IP, contact us via email@example.com