Are you planning to develop your business? It is significant to have a unique and distinct brand that’s recognizable by consumers as a sign of quality, trust, and satisfaction. These types of brands that attract business profits on one side are vulnerable to be infringed by others like competitors on the other side. Hence, a good trademark strategy is vital to create a brand that is easy to sell, satisfies the consumers, and maintains a distance from issues like Trademark Infringement. Trademark strategy can also help in ensuring that a unique name or logo representing your business will remain a symbol of your goodwill and reputation, instead of becoming descriptive of specific products originating from anyone.
Steps to Develop a Fruitful Trademark Strategy
- Execute Trademark Search
In the brainstorming stages of building your brand, a trademark search is helpful to determine whether or not any confusingly similar or identical trademark that can prevent Trademark Registration in regards to your product already exists. A trademark search, though, seems a little bit costly for firms having limited financial resources, yet it can help you in saving a lot of your hard-earned money that may likely get wasted on rebranding products and services once they were launched or promoted. It can also prevent issues like trademark infringement, and therefore, wastage of financial resources on settling them.
One can conduct a preliminary trademark search on his/her own. However, this type of search only captures trademarks identical to your mark in most cases. Besides, it fails to determine trademarks that have different spellings but the same sound, for example – Life and Lyfe. Accordingly, it is recommended to seek the help of an experienced Intellectual Property (IP) Attorney or trademark solicitor while conducting a trademark search.
- Be Careful About the Trademark Registration Process
After being familiar with the fact that trademarks can add a remarkable value to your brand, you may get tempted towards obtaining Trademark Protection in India or other nations for every symbol, name, etc., representing your business. Before proceeding, note that as the trademark registration procedure is country-specific, obtaining and enforcing several trademarks can be expensive as well as difficult. As a consequence, registering every single item in the vast suite of your business products doesn’t make commercial sense. Hence, Trademark Registration in India or any nation should always be carried out after prioritizing trademarks based on the value they provide and having complete information regarding how the process is carried out in the relevant nation.
- Market Your Trademark
The subsequent step in the trademark strategy procedure is to publicize your Registered Trademark to consumers so that they associate it with the satisfaction and quality related to your products and services. Do you rely on websites and social media platforms to advertise your products? Securing domain names and social media accounts will help in preventing competitors from making profits by using the same or similar names or accounts.
- Ensure Proper Usage
One pitfall trademark holder can fall into is condoning inappropriate trademark use by consumers and influencers in the area, spreading the usage in vernacular. One of the best examples of this is “Google®,” which was initially trademarked as a search engine but soon became a common verb to showcase searching for anything online. Although this isn’t always problematic for large brands; however, for small ones, it can lead to disastrous outcomes.
How can you prevent devaluing your trademark in this way? Ensure using your trademark protection for generic products or services that you are selling or planning to sell. Consider developing your marketing strategy based on the comparisons like – Kleenex® is the softest versus Kleenex® facial tissues are the softest. Avoid using your trademark in plural form instead of singular if it has been registered as a singular term.
- Fight Against Competitors
The aim behind developing a powerful trademark strategy is to make sure that your brand is the only one that makes profits on the goodwill and reputation you have created. To prohibit trademark infringement, you need to notify others regarding your trademark rights in as many as possible instances. For instance, if your trademark is registered, then you should showcase your trademarked term with ®. On the other hand, if it not registered, still you should mark it with TM symbol often put in superscript to notify others that you’re using the relevant symbol, word, or other as a trademark.
The precise trademark strategy can create goodwill and reputation that will uplift your brand from better to the best. Don’t forget that careful consideration and execution of an appropriate trademark strategy is not just beneficial but also essential to shaping consumer perception of your business’ products and services. For more visit: https://www.trademarkmaldives.com
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