Trademark Investment
We have been there. You are just starting your small business and must carefully decide in what you are going to invest the little initial capital money you have. Should you really trademark your business or should you just wait. Let’s see.
Brand Creation and Image
We live in a world of overabundance. Don’t think it is true? Think about this. When you go to the supermarket or pharmacy to buy a basic item like a toothpaste, how many different kinds do you see in the aisle. I’m almost sure is not going to be one, two, or even three. So, how do you decide which one to buy. Many of use buy depending on the brand. We choose one brand against another one because we know the brand, trust in its products, and rely in their quality. So, you might say that brand image is very important. It is what distinguish you from competition and the way consumers identify you.
Trademark Law
Trademark law protects this: THE BRAND. First, you don’t want to start working on a brand that is already taken and not yours. Or, second, you don’t want to spend hours, days, working for a brand that someone will then steal. This all means that from the “birth” of your business you want to make sure that the brand you will start to work hard for is unique, only yours, and that no one will take it away from you or, in the worst scenario that somebody actually does, that you have the law on your side to fight for it. This is why registering your mark is soooo important. This is also why it is important to do it from the beginning and not wait until it is too late.
Extra trademark revenue
But wait, a trademark can also help you bring additional revenue to your business. Some options are:
1. Licensing your trademark and allowing other companies to use it for particular goods and services. This is fairly common.
2. Co-branding with another company where you each take advantage of the other’s strengths and trademarks. An example is the yummy Oreo Mc Flurry from Mc Donald’s.
3. Getting capital through the securitization of trademarks, which is when companies use the value of trademarks and other intellectual property to generate financing.
Trademarks are property
Remember that like any other kind of physical property, trademarks are also property. They are just not physical. They are intangible assets, but assets nonetheless. This means that you can also sell them, leave them in your estate, and many other things. Same as you will do with your physical assets.
Trademark now or later?
So, what do you think? Are you going to wait to trademark your brand or are you going to do it NOW! The year is ending, and a new beautiful, bright year is coming. Make trademarking your brand a New Year’s resolution. I’m sure you won’t regret it.