Trademark is a valuable form of intangible intellectual property (IP) that serves as a distinctive identifier for a company, product, or service. It can take various forms, including words, symbols, designs, logos, or combinations of these elements. The primary purpose of a trademark is to set apart the goods or services of one entity from those of others in the market. Therefore, it is impossible to undervalue the significance of any trademark.
The following are some justifications for trademark protection:
- Recognition: Any brand has a trademark associated with it as its alter ego. For a startup, it might result in an immediate awareness of the products or services. In addition to this, they can certify the quality.
- Benefit in the long run: Trademark rights are perpetually granted, unlike other forms of IP protection such as patents or copyrights, provided that the trademark registration is timely renewed for a fresh 10-year term each time.
- Competitive Advantage: Since they recognise value along with startup valuation, trademarks can give entrepreneurs a considerable competitive edge.
- Legal Security: Startups can defend their market interests without incurring unnecessary legal costs or litigation by registering their trademarks, which strengthens brand identity protection.
Trademarks are essential to every startup, thus every effort should be made to safeguard them from infringement of intellectual property rights or unauthorised use.
- Publication date
- 24 August 2023
- European Innovation Council and SMEs Executive Agency