Consider what might make a business successful. Good people, good products, good management and well organised and ordered finances and operations are all important, but you endanger losing loyal customers if there is any element of confusion over the source of the products in your industry. The answer to this potential worry is to consult a trademark solicitor to protect your interests. If you lose your identity by not adequately protecting your businessís name or brands owned by your business, then rivals may exploit the situation by registering your business identity, or by registering a highly similar name, and in the process of losing customers and changing your name, your profit margins may decline as a result.
The name of a business or a brand acts as a signal to customers loyal to your products. They are associated with a specific price, or quality, or with features advantageous to customers who purchase them. Thus, the role of identity in building up a strong customer base and consistent revenue should not be overlooked. Inevitably, success in the marketplace will bread motivation for other firms to replicate your success, which is where the services of a trademark solicitor may come in useful. Where this takes the part of attempts to cut prices or increase quality, this is perhaps bad news for you but good news for the customer. But when strategic marketing is such that your identity is registered by a rival firm or emulated closely in an attempts to woo your customer base, you have a particular reason to be worried.
The costs of employing a trademark solicitor may be offset against the potential costs of having to re-brand or change your business name if a rival firm registers your original name. This will invariably lead to re-packaging and a subsequent, potentially costly new marketing campaign. So recruiting a lawyer is likely to be the better option.
A specialist lawyer will aim to avert conflicts created when another business uses your name to sell products. Although you have a common law right to avoid this happening, it can be difficult to provide evidence that this is the case. Thus, a lawyer can arrange with the Registry to certify your rights, giving you protection from others using the same mark, or similar marks, for their business or products. You are legally entitled to challenge firms in court with similar names in the same industry.
The advantage of trademark extends to preventative aspects and in regard to potential financial gains. Your trademark will be input into a register available to other firms, preventing them from illegal emulation of your name or brand early on. Furthermore, after registering your trademark it is possible to sell it. If you build up a strong business and decide to retire, for example, the trademark associated with your goods or services may be sold to another firm and this may be a lucrative decision. A lawyer can guide you through the legal apparatus involved in such exchanges.