Are you currently setting up your own start-up or have you been in the market for a long time, eg on Instagram?
You have probably heard of protecting the name of your product or company. However, there are costs for this and you wonder whether it is really worth spending money on it.
Here are 3 reasons why you shouldn’t wait any longer to register your trademark.
1. The quality function of a brand
With a brand you can stand out from your competition and create a quality feature for your goods or services. In the best case, your customers associate certain positive characteristics with your brand and your brand receives a protected recognition value.
In addition to the products / services you offer, your company itself also benefits from a well thought-out brand strategy and contributes to the formation of your corporate identity. In the best case, a well-known and qualitatively established brand also has a pull on new (and existing) employees, who can identify themselves better with your company.
2. The exclusivity of a brand
As soon as you have registered your trademark with the trademark office, only you are allowed to use the trademark in business dealings and to take action against illegal use by third parties.
If you do not protect your brand early enough, your competition may get ahead of you and “steal” your brand, because “first come, first served” applies in trademark law. This means that the person who first has the trademark registered with the Trademark Office receives exclusive trademark protection and excludes other market participants from using an identical or even similar trademark.
Therefore, the money for a trademark application should be taken into hand at the beginning of a company establishment, as it can often be too late after a while, when the trademark has already established itself on the market. If the competition was faster, you may even have to reverse your previous investments.
If you have registered your brand in good time and secured the exclusive rights, you can continue to invest in your brand and the expansion of your corporate identity with a clear conscience.
3. The brand equity
in addition, once a brand has established itself in the market, it also represents a non-negligible asset (brand equity).
It is possible to license your brand, ie to allow third parties to use your brand for a fee.
You can also sell your brand as an independent commodity or buy other brands.
The more valuable the brand, the higher the price or the higher the license fee. Brands, like patents, are to be considered as intangible assets in accounting and can thus make up a significant part of the company’s value.
So don’t waste valuable time and register your brand now.
We are happy to carry out the trademark registration for you and advise you on your individual trademark strategy.