Did you know that the combined brand value of the top 50 companies in 2018 is over a trillon dollars?
At one point in time, all these companies were startups with zero brand recognition or brand value. You can bet that trademarks played a very integral role in the health and growth of these businesses.
We will look at three major reasons why it’s important for startups to file their trademarks.
Trademarks are a vehicle to display attributes of your company, its reputation, and products and/or services to the world.
A trademark will make your brand easier to find for customers, especially online. Not only do companies have their brand represented on their own website, but also representations of their brand are found on social media platforms such as Facebook, Twitter, Instagram, Linkedin, as well as wide-reaching directories like Yellowpages and Yelp.
The marketplace is filled with your competitors. Registering a trademark is a way to legally set your brand apart.
As your startup continues to grow and your trademark begins to develop an intrinsic value, your trademark can become a valuable financial asset.
A trademark can be an asset in multiple ways:
- Your trademarks can pave the way for expansion of your company and into different products or services;
- Trademarks can be licensed to other companies for additional revenue; and
- Trademarks can appreciate over time, providing your company with a long-term competitive advantage.
By registering a trademark you can build a protective barrier around your brand. It makes it harder for other businesses to imitate you and infringe on your intellectual property rights, putting them in a legally weak position.
If you invested a lot of time and resources to create a brand identity for your business, wouldn’t it make sense to ensure all your hard work is protected against the competition?
Your Brand Needs Trademarks
As your company begins to grow in size and popularity, ensuring that your trademarks are registered is the best way to stand out from the competition, create a lasting asset and protect the longevity of your business.
If you have any questions regarding trademarks and other intellectual property matters, feel free to speak to our legal experts and give us a call at (778) 565-4700. You can also schedule a free consultation on our contact page.