Who Needs a Trademark Anyway?
If you're a business owner, you definitely need to trademark your brand logo and name.
Have you ever been to the market and watched someone ask for Indomie and point to another brand of noodles? Or ask for Gala and point to another brand of beef snack? That is the power of trademarks. However, many small businesses hardly have the value of such companies (in the Nigerian context) and as such do not see the need to register and use a trademark. Here are 3 reasons you should consider trademarking.
Trademarks develop confidence in customers: Probably the most important factor to the continuity of a business is the ability to retain customers and earn referrals from them. This becomes possible, though, when customers trust your business. This becomes easy with the use of a trademark. ‘Oh! Have you used so-and-so product, it’s amazing!’ So-and-so gradually becomes popular and sooner or later, so-and-so becomes even more important than the name of the manufacturing company. Not many people may know De-United Foods but millions can't forget their top-selling product: Indomie.
Trademarks protect the business: it protects your competitors from stealing your brand nae, colours and logo. If your logo isn't trademarked, a competitors can spring up and use your logo to sell their products. Picture the famous Nike swoosh sign used on an upcoming brand's trainers. Because of how popular the swoosh sign is, customers will assume its a Nike product their buying without checking for the brand name.
Trademarks can attract more business: One of the first things any potential investor or creditor asks for before conducting business with a firm is whether the business has appropriately trademarked its products and services. This serves as a form of security while also making issues surrounding any future merger or acquisitions clearer based on the perceived value of the trademarks.
Given these advantages, wouldn’t you rather just get a trademark?