flevyblog

Flevy Blog is an online business magazine covering Business Strategies, Business Theories, & Business Stories.
MANAGEMENT & LEADERSHIP STRATEGY, MARKETING, SALES OPERATIONS & SUPPLY CHAIN ORGANIZATION & CHANGE IT/MIS Other

The Power of Trademarks in Branding

Nick Youngson CC BY-SA 3.0 Alpha Stock Images

Establishing a memorable and appealing brand for your business is crucial, and one aspect of this involves the effective use of trademarks to benefit your fledgling entrepreneurial efforts.

Unless you are a seasoned brand-builder, you might not know what role trademarks play in giving businesses the momentum they need to succeed, so here is a quick overview of what they are and how they can empower organizations of all sizes.

Standing Out from the Crowd

The primary purpose of trademarks is to ensure that the elements which identify a brand as distinct from its competitors are protected from unapproved copying or other forms of exploitation by third parties.

You can trademark a word, name or symbol which is unequivocally unique, such as your company logo and any slogan you create to promote your brand and products.

Without a trademark, others could use the branding you have worked so hard to create for their own benefit, piggybacking on the reputation you have built without having to do any of the hard work themselves, so registering early is not just about standing out but also about staving off unscrupulous competitors.

Getting Straightforward Protection

The good news is that you can register your trademarks to secure your branding from manipulation with relative ease.

The first step is to search the official database to see whether your intended trademark has already been taken. You might be surprised by what is registered, and this can help you avoid potential conflicts with established brands.

You can then apply online, although there is a lot of paperwork involved and hoops to jump through, so it may be worth outsourcing this to experts like Nominus trademark registration, especially if you have never gone through this process before.  If your application is accepted, you’ll go through a 30 day period of trademark opposition. That means that other interested parties can oppose your trademark and if they have legal ground could stop you from getting it.

Enticing Prospective Talent

Trademarks are not just useful for appealing to customers and setting yourself apart from your rivals in a competitive marketplace. They can also be invaluable if you are hoping to elevate your brand recognition so that you can bag the best employees for roles in your organization as it grows.

This comes down to the idea that a business’ brand reputation is tied inextricably to its trademarks, and if people know and trust your company name and logo, then it will hook them if they see it in a job listing.

Exuding Professionalism

Another powerful function of a trademark is to demonstrate to everyone that you are serious about presenting your brand in a professional way, and also that you have the confidence in your products and services which you are willing to fight to protect.

Without trademarks, it might seem that you are either unsure about the future viability of your brand, or are simply an inexperienced operation and thus a weak target for others to prey upon.

Generating Value

Trademarks are innately valuable, and can further enhance the value that an entire brand is able to demonstrate and command on the open market.

This might not be relevant right now, but if at some point in the future you decide to either license your brand for use by others or even sell your business to a larger company, then trademarks will be a seriously saleable asset.

Looking to the Long Term

Ultimately, trademarks signify that your brand is not just a flash in the pan or a fragile project without a future, but rather one which has solid foundations and ambitions to gain traction going forward.

It is easy to see why trademarks are so widely used, and hopefully why you might consider adopting them for your own firm right now.

About Shane Avron

Shane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.




Complimentary Business Training Guides


Many companies develop robust strategies, but struggle with operationalizing their strategies into implementable steps. This presentation from flevy introduces 12 powerful business frameworks spanning both Strategy Development and Strategy Execution. [Learn more]   This 48-page whitepaper, authored by consultancy Envisioning, provides the frameworks, tools, and insights needed to manage serious Change—under the backdrop of the business lifecycle. These lifecycle stages are each marked by distinct attributes, challenges, and behaviors. [Learn more]
We've developed a very comprehensive collection of Strategy & Transformation PowerPoint templates for you to use in your own business presentations, spanning topics from Growth Strategy to Brand Development to Innovation to Customer Experience to Strategic Management. [Learn more]   We have compiled a collection of 10 Lean Six Sigma templates (Excel) and Operational Excellence guides (PowerPoint) by a multitude of LSS experts. These tools cover topics including 8 Disciplines (8D), 5 Why's, 7 Wastes, Value Stream Mapping (VSM), and DMAIC. [Learn more]
Recent Articles by Corporate Function

  

  

  

  

  


The Flevy Business Blog (https://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most of our articles are authored by management consultants and industry executives with over 20 years of experience.

Flevy (https://flevy.com) is the marketplace for business best practices, such as management frameworks, presentation templates, and financial models. Our best practice documents are of the same caliber as those produced by top-tier consulting firms (like McKinsey, Bain, Accenture, BCG, and Deloitte) and used by Fortune 100 organizations. Learn more about Flevy here.


Connect with Flevy:

   
  


About Flevy.com   /   Terms   /   Privacy Policy
© 2022. Flevy LLC. All Rights Reserved.