Have you ever heard about a trademark war? In simple lingo, it means a legal battle involving a company’s trademark, fought out by a business, represented by an attorney in court. In such a case, a company usually asserts its right over a trademark and challenges its infringement by another or others.
If you are wondering why there should be such a lot of hullaballoo over a “trademark,” it is because, trademarks are vital business assets.
What are Trademarks?
As any competent attorney will explain-a “trademark,” signifies the mark, symbol, name, slogan, design, phrase or insignia; or a combination of these, as used by a trade (meaning business, enterprise or company) to establish its identity in target market. These marks are used on product labels; advertising and promotional material; in all marketing content including business cards, brochures, websites and presentations; and are even displayed outside office buildings. The primary use of trademarks is establishing an identity for a business.
Trademark Registration and How It Empowers Trademark Owners
The trademark owner, whether he is an individual or a corporate or business entity, can sue infringers for millions over trademark infringement. A trademark has financial value and tangible value! Small wonder then, why an attorney specializing in the sphere will always advise you to register your trademark. And, while trademark registration is not mandatory, legal eagles believe that doing so, safeguards your business interests. Moreover, while you can register your trademark even without legal counsel, hiring a trademark attorney, increases your chances of successfully registering your trademark.
What Benefits Do Trademarks Offer Businesses?
“Marketing research and case studies show, that a trademark does have a powerful impact on customers and strongly influences their buying decisions,” says an attorney on the subject. The many advantages that accrue from this impact are as follows: Trademarks give your business a distinct identity; they help your customers distinguish you from your competitors; they let you connect with the consumers of your products or services, on an emotional level breaking political and geographical barriers; they build consumer trust and loyalty; and most importantly, give you the scope to increase your market prices, sales and profits.
Are Trademarks worth Investing In?
Companies spend an enormous amount of resources, effort and time, in taking legal counsel on the matter. They also invest heavily in hiring an experienced and competent attorney, when registering, enforcing or protecting their trademark- essentially because, trademarks have enormous tangible benefits! Businesses also use funds, meticulously planned marketing campaigns and smart strategy to project their trademarks in such a manner, that their customers start identifying them with it. But, are trademarks really worth investing so much in!
To understand how effective trademarks are, all you need to do is observe them as a consumer, suggests an attorney practicing in the sphere. Which company comes to your mind when you see a ‘check’ sign or the words-“Just Do It”? Of course, it’s Nike! And, which company do you think about, when you see a big yellow colored ‘M’ symbol or the words-“I’m loving it”? Quite obviously, that’ll be Mc Donald’s! Last, but not the least-who do you associate with the symbol of a ‘jumping wild cat’ on sportswear? Undoubtedly, it is PUMA.
If you got all three answers right, it means, that not only are you brand and trademark savvy, but also that these trademarks have succeeded in leaving a lasting impression on your mind.
This article was written by Nancy. G. Cohegein, a business writer, according to whom, a trademark attorney can help protect your greatest business asset.