Having a registered mark for your goods and services allows you exclusive rights to use and profit from this brand indefinitely. Not only will trademark registration bring more revenue for your business, but this also puts more value on the brand that can transcend the combined physical assets of your company.
What Trademark Registration Can Do
Trademark registration protects your intellectual property from being stolen and used without your knowledge and consent under law. This allows you to enjoy all the benefits that come with the right to exclusive use of your brand name and logo.
Much like real, physical property, trademarks can be bought, sold, borrowed, and even rented for a certain amount of time. The key thing to note here is that you can gain all these profits without having to worry about losing your brand.
Here are a few other advantages that will justify you to register trademark in Singapore:
• Brand uniqueness (your goods and services are more distinguished);
• Right to exclusive use; and
• Certified proof of ownership.
These advantages, and more, can be accessed fully and exclusively when you apply for trademark registration, which is now easier to apply for in Singapore. But how do you come up with a registered mark? What is a brand? And how do you market it to your audience?
The Brand and the Logo
With countless of products and services that are becoming increasingly available to the market, it becomes harder to distinguish yourself from others despite the objective quality of yours.
The concept of branding itself can be pretty vague, even for people who have studied marketing, but the gist of it is simple. The basic definition of the word “brand” is that it is a name, term, design, symbol, or any feature that distinguishes one’s goods and services from those of others.
In the world of marketing, there is so much more to think about and put into your brand. Oftentimes, much of what makes the brand is the emotional aspect (how the brand makes you feel) just as the physical one (what it looks like).
The Brand Idea
There are many ways to think of a brand, but one of the best ways to think about it when you’re trying to come up with it is as an idea.
The idea for your brand has to be easily understood and relevant to your target demographic. Not only are there many ways for your idea to be too complicated for your audience to grasp quickly, but there are also so many ways it can be unimportant to them.
A good thing to think about when coming up with your brand is this question from the perspective of a potential consumer: “What’s in it for me?” This helps to keep your brand from being self-serving and makes it relatable to your target audience.
The key thing in order to relate to your audience is empathy. The brand isn’t solely about the product, but is and should also be about the customer experience.
All these elements make up the logo, which is what you see on different products and services to allow themselves to stand out among hundreds, if not thousands, of other market players and competitors.
The logo is simply the graphical representation of your brand, and what consumers see when they buy a product or service. As products can be easily copied by other players in the market, your brand should be what makes yours stand out.
While there is no one right way to make a logo that’s effective and draws in customers, there are a lot of ways that a logo can confuse your customers.
The brand has to convey a lot of things to the consumer in so short a time span, which is why it’s usually best to hire a graphic designer if you’re not absolutely sure you can do it yourself.
The Difference between TM and R
The ™ and ® symbols are some of the most commonly used in the industry in both branding and marketing, and are very important aspects of IP protection allow you to protect your brand.
™ – This is the symbol used for claiming ownership over a brand not necessarily offered protection by trademark. This brand may be either be unregistered or in the process of being reviewed to see if they are qualified to register trademark.
Using this symbol next to your brand name allows you to assert your ownership and prevent anyone from using it either by accident or mistake. However, you should apply to register trademark for your brand before doing so.
® – The “registered” symbol denotes a trademark that has already been issued a certificate of registration by the Intellectual Property Office of Singapore. After you successfully register TM for your brand, you are given a protection of ten years from the date of application.
Having a protected trademark along with a well-designed brand that can appeal to potential consumer demographics and draw them in is often the first step to establishing brand loyalty.
Brand loyalty is a pattern of behavior among consumers where they become committed to brands, making several instances of repeated purchases over the span of an indefinite period of time regardless of convenience or price.
A successful brand is able to establish brand loyalty through a lot of things, the most important of which is through customer engagement, which is the first step to maintaining a successful business in Singapore.