The brand name of your business is more than a label. It is the identity of your brand. With a creative name, more customers are attracted to you. Nowadays people are going to those businesses which provide them good quality or good services. But in this era, there are many brands with similar names. So it would be best to protect your name by the intellectual property right.
What is branding?
It is the business strategy and marketing concepts that help the customers to easily find your brand name. The brand name helps you to create your identity in others. It is more than a label. The brand name is the identity of any business that shows reputation and makes promises to the customers by providing their best products and services to the customers. The brand name is made with logos, colours, graphics, or designs which attract people to your brand. By the identity, the owner of the brand can generate money by selling the products and services to the customers.
Why It Is Important to Protect Your Brand Name?
Every individual who owns the business should know their rights which come under intellectual property rights. For the protection of the brand name there are some points which are discussed below-:
Brand Identity and Recognition
The brand name is the first thing that is important to show the identity of your business. The name will help people to recognize your products and services. For example like any famous brand you know instantly your brain shows you all the things about that brand’s products and services which you know is called identity and recognition.
Trust and Reputation
A well-known brand name especially who has a trademark will build trust in people. When people see a name they recognize the product and their quality and services. You should provide the best products and services to the customer it builds trust and a good reputation.
Price and Value
The famous brand with a strong reputation has higher prices for its products because it builds the identity and trust of its customers. This is sure if your brand has earned their trust and reputation in the market, you can generate money through that.
Confusion between brand names
Today it is very common that there are multiple businesses with the same name which leads to confusion in the customers to buy the product that is better for them. They will confused between the quality and prices so if you think your product quality and prices are best you should trademark your brand name because of this no one can use your brand name which provides the customers with a better way to see the products and not get confused.
Legal recognition
In this, if a name is already registered under the intellectual property rights then they have full rights to file a case against another person who is using their name for their brand. But if you have not registered your name it will be difficult for you to stop others by using your name.
Future growth
When a person starts a business their main goal is to get money from their brand. For that, you have to register your brand name for the selling of products and services so that in the future when your name becomes famous you make money out of it.
Global expansion
To expand your business globally you have to protect the name once the name is protected no other business person can use your brand name so there are higher chances to get profit globally.
Customer loyalty
It is seen when the customers are using the same product for a very long time. This only happens when the customer has trust in the brand. It will only happen when your product prices are reasonable and good quality.
How can you protect the brand name?
To protect the brand name you should register it so nobody can use it for their business. There are some points to protect your brand name which are-:
Trademark search
The trademark is used to ensure that no one used a similar name for their business which is already in the market for selling the products.
The patent and trademark office database is used to see if any other person is using the same name or logo in the market. You can apply online for a trademark.
Registration of brand
For the registration firstly you search for a trademark name after the search you see no one has a similar name then you can register your brand name. At the time of registering you should use an extension like .net, .biz, .com, and .org. with alternative spelling which helps the customers approach your website easily.
Copyright your logo
After registration, you should copyright your logo. It will represent your website to the users. You will see all brands are using logos for their business they are registered their logo under the copyright. If you want to secure your business you must copyright your logo.
Monitors your competitors
You can set up Google alerts so if anyone uses your brand name. it will send you an alert when anyone uses illegally your name. At this time everyone is using online platforms. So it is necessary to use social media to monitor your competitors.
Fighting against Infringements
When you start a business there are many chances that people can try to infringe your brand so you should be ready to file suit against them. It will maintain the value and trust of your brand to the customers.
Social media account
When the business needs more acknowledgement you should start using social media and post every single post that about your product so more people can reach organically on your website. It will also provide your business security. Like if you have hand hand-crafted design business you should go on social media and post about the design details, and location of your business. The more you share the more people will come to visit.
Draft appropriate (NDAs)
It is Non-Disclosure Agreements which is important for brands like freelancers or any independent brand. It will help you to protect the information about your brand. There is an agreement under which other parties can not disclose any information about your business.
Conclusion
In this era, technology has changed in many ways which can be dangerous for your business. So it is very important to every person who is ready to start a business they should first protect their rights. For more details, you go through the intellectual property rights. It will help you so nobody can steal your name.