Once you have decided on the type of business you wish to start, you need to take care of many details. You must decide on a company name and then register it. Another requirement is to apply for a business number. Now is the time to utilize some of your creative ideas; you need to design a visually appealing company logo or hire a talented individual or company to assist you with this task. Another important aspect of establishing a new business i to establish a trademark for your company. We’re going to discuss more about trademarks and why they’re important to your business.
What Is a Trademark?
You may think of a trademark as a distinguishing characteristic of a person, place or item. For example, comedians often use a particular voice or stage prop that becomes their trademark and celebrities are often known for a distinguishing attribute. However, the term trademark means something different when it comes to business.
A trademark is a distinctive indicator or sign that an individual, business or legal entity uses to identify the source of its products or services to consumers. A trademark enables a company to distinguish its particular products or services from ones offered by other businesses. Because trademarks are legally registered, they can only be used by the owner or manufacturer of the company that registered it. Trademarks that are used to distinguish services instead of products are sometimes referred to as service marks.
A trademark is a form of intellectual property, and varies depending on the particular company. It may contain a word, a name, phrase, logo, design, symbol, image or any combination of these.
There is also a new category of trademarks called non-conventional or non-traditional trademarks. Although they are often very difficult to register, they still identify the origin of the products or services offered by a particular company. The main difference is that these trademarks don’t necessarily have to contain words, symbols, logos, letters or numbers.
Non-conventional trademarks can include marks based on visible signs such as shapes, colours, moving images or holograms or non-visible signs, including textures, scents, sounds or even tastes. Shape trademarks are referred to as 3Dor three-dimensional trademarks. One such example is Toblerone’s distinctive triangular shape used for their chocolate bars that is protected in Europe. Sound trademarks are referred to as aural trademarks and scent trademarks are called smell trademarks. An American sewing thread company successfully registered a plumeria scent in 1990.
Colours can become trademarks in the United Kingdom where H. J. Heinz company has obtained exclusive rights to using the particular shade or turquoise blue that appears on their heinz baked bean lables. BP, the former British petroleum company, has also been granted exclusive permission to use green on pertol station signs within the UK.
A growing number of motion trademarks are emerging, with an increase in the volume on online companies. These trademarks, also known as moving marks, movement marks, animated marks or moving image marks are very difficult to register. Many web browsers contain a motion trademark that appears in the top right hand corner of the screen when a visitor first accesses the site.
Why Is a Trademark Important?
Set your company apart from your competitors
If you own a business, you should consider creating a trademark for the products or services you offer. In today’s competitive marketplace, it’s more important than ever to distinguish yourself from your competitors. Creating an eye-catching trademark is a great way to accomplish this task. Consumers will be able to easily identify your goods from ones offered by other companies within your industry.
Effective Marketing Tool
Trademarks can become a very effective marketing tool. This is especially important for new business owners who wish to announce their presence in the market and establish themselves as a reputable company who wants to become a permanent fixture in the industry. Research reveals that consumers feel more confident purchasing from branded or trademarked goods than non-branded items.
Protect Your Identifying Signs
Trademarks will protect your identifying sign from being used by other companies. If you have registered your trademark, you can sue another company for trademark infringement if they use it without authorized permission. Even if you haven’t registered your trademark, you may also be able to file a lawsuit against unauthorized use. The problem is that the owners of what are known as common law trademarks are normally restricted to the specific geographical area in which the trademark has been used.
Regardless of what type of company you are running, you should create and register a trademark. This distinctive mark can include a wide variety of elements such as words, logos, numbers or even sounds, colours or smells. Trademarks can help you increase your exposure in the marketplace, set yourself apart from your competitors and market more effectively.