Trademarks are part and parcel of any company or business. They play an indispensable role in the success of any product or service launched by the company. Conversely, it can be detrimental to the future of company, product or service when companies overlook trademarks as they expand their offerings into new industries and geographies. It would not be a misnomer if to brand trademarks as the ‘heart and soul’ of a modern company.
Developing an effective and eminent strategy ought to be the be-all and end-all of any company. An epigrammatic trademark strategy should involve a policy that is in consistent with the demand and interest of the target customer. It should be marketable in such a manner that the consumers can associate it with the quality and satisfaction they derive from your products and services.
A well-considered trademark strategy will emphasize the uniqueness of the goods and services of the company. It should be distinct, definable, and recognisable.
Here are some key points for developing your trademark strategy:
Once you have decided the trademark for your brand you can register your trademark in the jurisdiction in which you want use or propose to use your trademark. Registering a trademark gives you exclusive rights to use the trademark across the jurisdiction for 10 years, renewal of trademark is also important to keep the trademark rights alive, and this gives owner legal grounds to seek damages against any party who uses the same or a confusingly similar trademark for commercial purposes.
While applying for a trademark registration, keep your trademark description as broad as possible in goods and services. If your trademark is a logo, it is advisable to file your logo without a color claim, because it can be protected from being copied in any color combination. If you file only a color claim, you'll only protect that particular color scheme.
The trademark marketing strategy process involves connecting your brand, product and services with your company in the minds of your prospective customers.
When it comes to marketing, the purpose of your trademark on websites and social media is to advertise your goods and services. So you need a registered domain that is similar, if not identical, to your trademark. Registration of domain could prevent others from getting those domain names before you.
You may also consider conducting market research by administering surveys and questionnaires and getting in touch with your customers to gather data on how people feel about your goods and services. This will give you the insight you need to create a compelling trademark.
A trademark is an embodiment of your goodwill. Therefore, a distinctive, well protected, and managed trademark is often a company’s most valuable asset. Your trademark strategy should always have a direct impact on your customers.
A good trademark strategy can help you not only protect your brand, products and services, but can also carve out a competitive advantage.
And finally! You should write the registered trademark with a circled “®” in the jurisdiction you have protection and in jurisdictions where you do not have the exclusive rights you can write TM.
Have you considered how trademarks fit into your wider intellectual property? Read the Ultimate Guide to Intellectual Property.