Most entrepreneurs in the world already know that a brand is needed for their business. Many still ignore the paramount importance of an ideal branding strategy.
A brand can be a unique combination of letters, words, patterns, sounds, and similar elements that differentiate the products and services of one company from the products of another company. Over time, the brand can become truly well-known and lovable, and can also become the most valuable marketing tool. By incorporating a registered trademark at an early stage into the brand development process, you can achieve significant benefits for the entire company. We now know a number of important issues and strategies for protecting brands.
Prioritize A Valuable Trademark
Very often brands and companies use more brands in their services and products. For example, they can manage their businesses with a logo and name, sell different products in one product with logo and names, and run marketing campaigns with catchy labels or phrases.
Given the value a brand can represent for a company, we can understand why entrepreneurs are looking for brand protection in the marketing portfolio of all other slogans, logos and words. However, you don’t have to remember that obtaining and applying for many trademarks can be a costly matter. In addition, there is no point in submitting a trademark application for each family brand. That’s why you should always consider giving the highest priority to the highest value brands. For example, iconic products and company names are more important than slogans or product names that are part of short-term advertising campaigns and time offers.
Remember Your Future Business Objectives
The brand strategy should focus on whether the brand or company will grow and develop in the future. When applying for a trademark, you must consider not only the products or services that the company currently operates with, but also those that the company can reasonably predict over time. Once a trade mark application has been filed with a specific list of goods and services, it may not subsequently be amended to include goods or services in a wider category than the original trade mark application. Let’s try to understand this situation with an example. Suppose you signed up for a jewelry brand last year and now you can’t change it. In this particular scenario, you will need to file a new trademark application that includes additional products or services.
Identify Target Markets
The fact is, trademark rights apply to all countries. A trademark application approved in one country does not grant you the corresponding rights in another country. To ensure brand availability, you should seek brand protection in countries where you currently offer products and services and in countries where you want to expand your business in the future. Otherwise, your brand may not be available in some target markets, forcing you to start a company with a different brand. As a result, you may even lose your brand reputation and goodwill.
Perform Trademark Search At Early Stage
To ensure that the proposed brand is available for use and registration, there is no doubt that the brands should be sought after in the initial phase of brand creation. Although the initial cost of searching for a trademark can be high for start-ups and small businesses with limited resources and budgets, it is inexpensive compared to the costs of possible causes of trademark infringement. In addition, it is always advisable to seek the assistance of an intellectual property lawyer or trademark expert to conduct trademark research.