With the job market still on the rebound, many people chose to start their own businesses, but whether or not you need to register a logo, slogan or company name, depends on several factors, especially when trying to keep start-up costs at a minimum. Generally, if you are the first person to use a trademark, you acquire rights to the mark as soon as you start using it to sell goods or services. Registration is not strictly required, but there are several advantages to registering your trademark . In addition, the cost of registering your trademark pales in comparison to the losses you can incur for failing to do so. Here are a few reasons why it’s a good idea to register your trademark.

Registered Trademarks Increase the Value of Your Business

Firstly and crucially, your trade mark leads consumers to your products (goods or services) and encourages them to buy yours, rather than a product offered by your competitors.

If a consumer has tried your product, liked it, and wants to purchase it again, they rely on your trade mark to identify your product and return to it.

In an increasingly competitive and changing marketplace, this is the most important role or function that your trade mark has to fulfil. In fact, in order to be registered as a trade mark, your sign, word, logo, sound, etc. must be capable of fulfilling this function.

Is a trademark the same as a trade name?

No. A “trade name” is basically the name that you’ve used to identify your company. It offers no legal protection or limitless rights for the use of that name; it is just the name. Trade names are registered on the state level, meaning a specific name may be available in one state but not another.

10 benefits to register your trademark

Trademarks matter for many reasons. Here’s a short list of some of those reasons.

1. trademark is not similar to any other registered trademarks

    By registering the trademark, you ensure that your trademark is not similar to any other registered trademarks. If you accidentally infringe upon someone else’s name or trademark, you could be sued by the registered trademark owner and may have to pay legal fees and fines as well as give up all profits obtained under the unregistered mark.

2. Registered trademarks establish the legal ownership in your brand.
   Trademark rights are generally created by registration. In some countries it is possible to acquire limited trademark rights based on the use of the trademark, but in most countries this is not either possible or is extremely difficult. As a general rule, you need to register your trademark to have a solid legal ownership of your brand.

3. Registered trademarks enhance your freedom to operate.
   If you do not register your trademark, it is possible (or even likely) that somebody in another country will register a similar name. Most conflicts are not intentional. There is more than 15 thousand trademark applications filed every day. The chances are that you’re not the only one thinking of a particular name. If somebody registers even a similar name in a country that is important for you, it may become very problematic and costly.

4. Trademark registrations put other in notice of your rights.
   When your trademark is registered, your ownership is publicly available for other companies to find and take into account. Registering your trademark is a good way of reducing the likelihood of somebody infringing your rights.

5. Save money.
   Trademarks are a relatively inexpensive form of intellectual property. Registering your trademarks will save money in case there is a conflict, regardless of whether you are being accused of infringement or whether you accuse someone on infringing your rights. If your rights are infringed, it does not matter who’s right in the end, it will cost all parties money and other resources.

6. Trademarks are the basis to create a company’s brand and reputation

   they create a relationship of trust with customers, which enables a business to establish a loyal clientele and enhance the company’s goodwill.

7. Exclusive rights

   Registration provides exclusive rights to the registered owner to prevent third parties from marketing identical or similar products or services under an identical or confusingly similar trademark.

8. Enforcement

   Registered trademarks are easier to enforce as they usually carry a presumption of ownership. In addition, some countries have put in place systems that enable customs authorities to inspect and seize counterfeit goods that infringe a registered trademark.

9. Increase the value of your brand.
   Registered trademarks increase the value of your brand. According to ISO standard (10668:2010), registered trademarks are one of three components attributing to your brand value.

10. Leveraging revenue sources.
    Trademark protection is essential for licensing. Licensing is not only for big multinational companies. We represent a lot of startups whose business model includes licensing both their technology and brand. Technology licensing is a good way of bringing your brand to the fore. In the end, and if done right, the brand will be more valuable than the technology