Whether consciously acknowledged or not, trade marks are an integral part of everyone’s daily interactions. The term trade mark essentially means brand. As customers engage with your business, your brand serves as their primary point of contact and their purchasing decisions are influenced by the reputation the brand represents. So, it is essential you protect your brand and the value that lies with it.
A trade mark is a type of intellectual property. It can be a word, a phrase, an image, or even a combination that makes your business unique. Think of them as your brand’s superhero cape, granting you the power to stand out in the competitive marketplace.
Registering a trade mark provides peace of mind for your brand. IP Australia has stated that businesses with registered trade marks are 13% more likely to experience growth. Why? Because trade marks influence how people buy. Your brand isn’t just a logo, it’s a promise of quality, trust, and uniqueness.
Think of Apple – that half-eaten fruit is more than just a logo, it’s a symbol of innovation and style. Trade marks transform your brand into a legend that customers recognize and trust, whether they’re scrolling through Instagram or wandering the aisles of a store.
Surprisingly, the number of small businesses in Australia with registered trade marks remains below 4%, according to IP Australia. Businesses opting not to register a trade mark may be missing out on numerous benefits not limited to those mentioned here.
Upon encountering a trade mark, customers swiftly discern your identity, the reputation associated with your business, and are inclined to explore alternatives less frequently. Your brand could essentially serve as the pivotal factor influencing a customer’s purchasing decision, emphasising the pivotal role trade marks play in shaping consumer choices.
Research from IP Australia shows that small businesses that register for trade marks are 16% more likely to enjoy strong employment growth. What’s more, small businesses owning trade marks also hire around 3.5 times as many employees as their non-trade mark peers. They also pay a better median wage. Building a strong workforce and growing your business is all in the power of owning your brand’s mark.
Understanding why trade marks are valuable assets and how they contribute to growth is crucial for businesses. Trade mark registration entails more than a superficial logo. It encapsulates a business’s core, its values, and its distinct promise to consumers. Armed with this comprehension, enterprises can unlock the full potential of trade marks, surging ahead in the competitive arena while establishing a recognisable and legally protected niche.
If you require assistance of have any further questions about registering a trade mark, our experienced lawyers can assist you and answer any questions you may have.
The expertise and experience of our Geelong Lawyer team at The Hrkac Group can help you regarding registering a trade mark for your business. If you need assistance or advice, please get in touch. To make an appointment to meet with one of our friendly Geelong Lawyers, contact us via email, or phone (03) 5224 2366.
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