The importance of building a unique brand for a business cannot be overstated. Having a strong brand identity associated with a business is essential for that business to grow commercially and expand its customer base, whether it is involved in manufacturing, sales, or providing services. Since establishing a brand is a high priority for businesses, it is natural that businesses must protect their brand as well, and prevent their exploitation by others for undue gain. This is why IPR and gaining the protections available to businesses under IP law is a vital aspect of the operations of any business. Even if the brand of the business is strongly established and the likelihood of confusion is very low, the business should still take all the steps necessary to ensure that undue advantage of its brand is not taken.

The link between Brand and Trademark

A company’s brand has two major goals:

1. Representing the company in the public sphere – A company must try to create maximum awareness and recognition for itself in the eyes of the consumers. The main aspects of a company’s brand (the name, the logo, and the claim or mission statement) are the most important tools to achieve this goal.

2. Representation of the values of the company – The brand of a company becomes associated with its identity and the products that the company delivers. The brand represents the values of a company, and the expectations of the consumer from the company are linked with the brand. A company can develop its reputation in many ways such as providing consistent quality, after-sale support, marketing campaigns, etc.

The most effective legal way to protect a company’s brand is through a trademark. A trademark is a legal instrument that grants the owner of the intellectual property which serves as the identifier of a company (a name, logo, slogan, etc.), to a specific person or company. Registering a trademark provides immense value for a company (as the cost to do so is negligible), and affords legal protection to the company’s brand image, which is one of its most valuable assets. Trademarks and brands are closely linked, and if companies don’t want to lose the investment they have made in creating their brand, they must protect its trademark.

How IPR can help in Building a Brand

Protecting brands is not important only for MNCs and large companies. Actually, it is even more important for companies that are starting out, as they are a lot more vulnerable to exploitation. Apart from protecting against infringement, there are other ways in which IPR can help businesses. Many smaller companies fail to recognize the numerous benefits of protecting their brand, which is not just limited to protection against infringement. Possible benefits include opportunities for licensing and associated revenue, the opening of franchises which in turn will help expand the geographical footprint of the brand, and increased borrowing prospects which are made possible by the registration of a brand’s intellectual property. Some more ways in which IPR can help building a brand are:

• Marketing Messaging – The registration of intellectual property allows it to be used in marketing schemes. For example, if a patent for a product is registered, it can be marketed as being “the first” or “the only”, which sets that product apart from its competitors. The same also applies to geographical indications. For example, Darjeeling Tea or Scotch Whiskey are products that have a higher perceived value than their counterparts, due to the geographical indication associated with them.

• Improved Customer Selection – A strong intellectual property portfolio can make consumers more interested in a business’s product. For example, if a company’s IP portfolio is strongly associated with social innovations, a customer who shares similar values will be more inclined to deal with that company.

• Competitive Advantage – It is absolutely essential that companies protect their brand identity. Competitors with low-quality products can use a company’s brand identity to advertise their product, and this can be hugely damaging to the reputation of a company. Therefore, it is critical to protect valuable brand assets with intellectual property to prevent such misconceptions from occurring.

• Innovation and Product Development – Having a strong brand ensures that a company has more power in the market. This allows the company to attract employees which are more skilled at what they do, and grow the company and improve the quality of its products. A strong brand also brings in more revenue which can be invested in product development and research, or into building a stronger innovation culture within the company.

• Global and Online Recognition – In today’s interconnected world, a global presence is an important aspect that companies have to consider. With the internet and global logistics networks being at the level they are now, it is easy for companies to sell their products internationally, and this expanded marketplace requires stronger intellectual property protection. Due to the necessity of having a strong online presence, companies must also ensure that their IP in that field (domain names, webpage designs, etc) is protected.

IPR is not the only way for businesses to grow their brand and should be seen as a means to an end. They should be utilized creatively and carefully and must be looked at as more than mere legal rights. As mentioned earlier, there are many other benefits to having a strong IPR portfolio that directly influences the building of a brand. If used along with other techniques like communication, marketing, media usage, quality control, and establishing an effective brand strategy, IPR can be a very useful tool for companies to assist them in building their brand.

know more about, how to choose the best brand name for your business, see the video below-

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Shivalik Chandan