The brand of a business may have enormous value. Having a registered trademark helps you protect that value.
There are many reasons why trademarks can be valuable and we’ve outlined a few below.
Owning a trademark gives you the right to stop others using the trademark.
Every business owner understand the importance of branding. A brand distinguish you, your business and your products from others. A brand enables your customers to quickly identify your products and they will be less likely to look for alternatives if they know your brand. A trademark is a mark used in commerce, i.e. a brand.
Registering trademarks gives you an option for protecting that brand value and deters others from using the same or similar trademark in their own business.
Trademarks can convey intellectual and emotional attributes and messages about you, your company, and your company’s reputation, products and services.
A trademark is an asset and can be used in the same way as other assets, e.g. sold, licensed, used as negotiating tool or used as an asset to secure finance.
Trademarks tend to increase in value over time as the reputation of the brand grows. The monetary value of a Trademark is tied to its reputation and the goods or services it related to.
A trademark can be owned perpetually as long as it’s continued to be used in commerce.
Trademarks are relatively inexpensive to obtain and offer potentially huge value. The potential cost to your business of not obtaining a trademark are orders of magnitude higher than the cost of a trademark which in NZ may cost as little as $100 in official fees.
Our recommendation is that regardless of your market, if you’re in business and have a distinctive brand you should consider applying for a registered trademark.
Having a registered Trademark can also assist in:
Trademarks are assets that add value to your business and can help improve the sale price of your business should you want to exit.