It was often felt that in order to make the business bigger you need to invest a huge amount of capital into it. But in today’s era, businesses require something really astonishing and it suggests that businesses today become bigger not because of money but because of ideas and a marketing technique.
Hence today while starting the journey of a new business your checklist must include two things which are the idea and the marketing. The marketing includes the most integral part of a business that is BRAND NAME and its LOGO.
Brand Name and Trademark are intertwined with each other because the success of the business today depends upon how well any business identify, manages, and protects their Intellectual Property.
The Trademark or the Logo of your business is the only mode through which the market will identify your business. So it is obvious and reasonable to invest sufficient time to name your business or to adopt a logo or tradename for the products to be sold or the services to be rendered by your business.
A trademark must be capable of being represented graphically and must distinguish the goods or services of one business from those of others. It may also include the shape of goods, packaging, and combination of colours etc.
The name of your business should always be protected by registration so that someone else does not utilize your trademark and try to confuse and deceive your consumers.
The trademark protection serves as the best source of revenue generation for your startup. You can exploit your IP by licensing it to the others in the market and earn royalty out of it. The trademark is often licensed by the owners while providing franchise to the franchisee who further sells the product or service of your business under the licensing agreement.
So it’s better to secure your brand name today and stand out of the crowd than to regretting later for not registering it.
Stay Positive, Stay Connected …:)
(Author can be reached at [email protected])