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Your business and the value of trademarks

For companies that work hard to maintain their reputation, their trademark may just be their most valuable asset
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When you are just starting out as an entrepreneur its easy to get carried away with sourcing and selling your goods that you forget about other important details that also affect your business like trademarks or more precisely any distinctive words, letters,  numerals, drawings, pictures, shapes, colors, logotypes or labels used to distinguish your goods or services.

 

Only signs that are visually perceptible or represented graphically are considered trademarks according to the Intellectual Property Office of the Philippines.

 

What is the purpose of a trademark?

 

Trademarks allow consumers to distinguish goods or services offered by specific company from other similar products in the market.  This makes a company\\\'s trademark a vital component of their marketing and branding plan because it represents their reputation and instills trust among clients.

 

Just take the case of the iconic Coke logo. To tamper with the classic design of a well-loved product is to invite criticism from consumers who grew up with the brand.

 

How valuable are trademarks?

 

For companies that work hard to maintain their record for reliability and quality, their trademark may just be their most valuable asset and competitive edge. Don’t underestimate the value that consumers place on trademarks because it plays a huge role on how consumers relate to your product.

 

As a business owner, you can protect your trademark by registering it with the Intellectual Property Philippines office. Once it is successfully registered, the trademark is covered by a 10 year protection, renewable every 10 years.  Registering your trademark gives you peace of mind that your company alone has the exclusive rights to use it and prevent others from using a similar mark for their goods or services. This also prevents competitors from misleading consumers or reaping the fruits of your marketing campaign.

 

If you plan on expanding your business in the future, a registered trademark will make it easier for you to source additional funds from banks and even offer franchising or licensing deals to other entrepreneurs.

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To know more about protecting your company\\\'s trademark, check out the Intellectual Property Center web site at www.ipophil.gov.ph.

 

For more articles on trademarks, click on the links below:

5 pointers when creating your company trademark

How to register your trademark in 6 steps

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