Benefits of Trade Marks

Even if you don’t realize it, everyone deals with trade marks on a daily basis. “Trade Mark” is another way of referring to brands.

Consumers’ purchasing decisions are influenced by trade marks and the reputation such brands represent. It is important for business people to have an understanding of why trade marks are important assets and help grow their business. Here are the seven top reasons of why trade marks are important to your business.

1. Trade marks are an effective communication tool. In a single brand or logo, trade marks can convey intellectual and emotional attributes and messages about you, your company, and its reputation, products and services.

Your trade mark doesn’t need to be a word. Designs can be recognized regardless of language or alphabet. The Nike “Swoosh” design is recognized globally, regardless of whether the native language is Zulu, Chinese, Spanish, Russian, Afrikaans or English.

2. Trade marks make it easy for clients to find you. The marketplace is crowded and it’s hard to distinguish your business from your competitors. Trade marks/brands are an efficient commercial communication tool to capture client attention and make your business, products and services stand out.

Clients viewing a trade mark immediately know who they are dealing with, the reputation of your business and are less likely to look for alternatives. Your brand could be the critical factor in driving a client’s purchase decision.

3. Trade marks allow businesses to effectively utilize the Internet and social media. Your brand is the first thing clients enter into a search engine or social media platform when looking for your products and services.

Higher traffic on a website or social media platform translates into higher rankings, bringing even more traffic, more clients and more brand recognition.

4. Trade marks are a valuable asset. Trade marks can appreciate in value over time. The more your business reputation grows, the more valuable your brand will be.

Trade marks provide value beyond your core business. Trade marks can lead the way for expansion from one industry to another, such as from personal care to clothing or eye ware. If you desire it, your trade mark can lead to the acquisition of your business by a larger corporation.

Trade marks are a property asset, similar to real estate, that can be bought, sold, licensed (like renting or leasing) or used as a security interest to secure a loan to grow your business. 

5. Trade marks can make hiring easier. Brands can inspire positive feelings in people’s minds. As a result, employment opportunities are more attractive to candidates. Employee retention can be higher if employees have positive feelings for the brand and the products and services offered.

6. Trade marks are a bargain to obtain. Economark can register your business trade mark for a few hundred Rand.

7. Trade marks last for ten years. Your trade mark will last for a ten-year period in the Republic of South Africa. We can manage new trade mark registration or renewals.

Brands are a critical asset. Do your due diligence before investing a lot of time and money in launching a new brand. Be sure the brand fits your company. Obtain a clearance search to make sure your new brand is available and doesn’t infringe on anyone’s prior rights.

Failing to research a brand before adopting can lead to denial of registration or, worse, a cease and desist letter from another brand owner. Spending the time and money up front to determine whether a brand is available will help avoid the very high costs of a dispute or litigation. Economark can assist you in this search.

Keep in mind that the more you differentiate your brand from others in your industry, the easier it’ll be to protect. Choose a name and logo that distinctly identify your business and will protect it from competitors.