Brand protection is more than just a buzzword; it’s a necessity. You can be a startup just trying to find your footing in a competitive market, or you could be a multi-million dollar company which already has hundreds of employees under your roof. While needs may vary depending on what your company specializes in and what your goals are, every company needs some form of brand protection. Brand protection nowadays encompasses more than the traditional copyright and intellectual property infringement cases. A company which is properly protecting its brand is one which focuses on protecting its existing and future assets, including everything from a logo to a key employee. Why is it that it seems always to get lost behind the more ‘immediate’ requirements? Many companies don’t see that brand protection isn’t something that you can skimp on or put off – but we’re here to tell you why you need it now.
While brand protection now includes much more than copyright and trademark infringement, they still feature heavily. Consumers will associate your company with its image, and that involves a logo, a product design, a recipe, a catchphrase, and many more. When you market a product, you want your brand to be extremely visible to form a connection with your consumer. Consumers will purchase more of a product if they recognize the logo, packaging, or verbiage. Having proper legal protection to ensure that your competitors aren’t making a product that imitates yours, will keep your brand visible to consumers, and ultimately lead to a higher profit.
When you have an identifiable brand which consumers continuously purchase, you not only lead to immediate value (through higher sales), but you also achieve a level of corporate value. Employees tend to apply for companies they recognize, which means more qualified candidates fighting to get in the door. Companies want to advertise with companies they recognize, which means a wider pool to choose from when promoting yourself. And not to be left behind, a company with a recognizable brand has a higher value in the event they want to sell themselves, merge with an existing group, or acquire new assets. In short, while there are definitely quantifiable benefits associated with having a strong brand, there are also hidden ones that show themselves in the long haul.
All of the benefits of having a strong brand and a loyal consumer base are entirely lost when you are not properly protected. With the rise of international commerce, internet-based sales, and open markets, you face more of a threat of theft than ever before. It’s not unrealistic to think that your brand is under constant attack, and properly protecting yourself early on is the best way to ensure those attacks do no damage! Copyright and trademark protection, employee vetting, and internal investigations are all essential to ensuring that your company doesn’t face any legal battles over the property you’ve worked so hard to create. Remember, when it comes to your company, there’s no amount of protection that is too much.