Trademarks are a useful tool for businesses for a variety of reasons. We all come in contact with many trademarks on a daily basis and businesses are no exception, as a trademark can be considered another way to describe a brand. Trademarks are important to the growth of a business and its brand. As a result, it is useful for businesses to understand what trademarks are, what they do and why they are important to a business.
To begin with, trademarks are an effective communication tool for the company’s reputation, products and services. In addition, trademarks can help the business, and its products and services, draw the attention of consumers and stand out. Trademarks and brands help the business gain a greater presence online and in social media because it is oftentimes what consumers use to search for the business.
Additionally, trademarks are a valuable asset of the business and can lead to expansion of the business and its products and services. Trademarks also create options for the company as they can be bought, sold, licensed or used to help the business obtain loans. Trademarks can also help in the employment process as they may draw a capable workforce to the business.
Though trademarks can last indefinitely with continued use, it is important to perform due diligence related to obtaining a trademark. Failing to do so can result in disputes and litigation, which also illustrates the importance of not only refraining from infringing on trademark rights but also the importance of enforcing trademark rights. As a result, it is helpful for businesses to have trained guidance throughout the process of obtaining and maintaining a trademark.
Source: Entrepreneur, “7 Reasons Why Trademarks Are Important to Your Business,” Abigail Rubinstein, July 24, 2014