Starting a business in Singapore today proves to be more competitive than ever. Protecting your brand should be at the top of your priorities and trademark registration is the first step in doing so. It offers significant legal protection and value to your business, making the difference between long-term success and unnecessary vulnerability. Here is why every brand in Singapore needs a trademark.
Build and Protect Your Brand Identity
Registering a trademark for your brand name or logo serves as a unique identifier for your business to stand out from the crowd. Consumers will be able to instantly recognise your products or services and be able to trust that they are authentic.
A registered trademark symbol also exudes credibility, trust and legitimacy. This boosts consumer and stakeholder confidence in your product/ service, reinforcing your commitment to the brand.
Legal Rights and Protection
One of the most compelling reasons to register a trademark in Singapore is for the legal security it provides. You would hold rights to the mark and clear documents to show it, giving you a stronger stance in any trademark disputes.
In the event you find another company infringing on your mark, you will be able to take legal action against them. Likewise, if you receive a lawyer’s letter informing you that a competitor is taking legal action against you for having a similar mark to their own, you will be more protected against such lawsuits.
Plus, research is done in the process of creating and registering for your trademark, where you will inevitably come across many other similar marks in your industry. This will significantly reduce your chances of overlapping with other brand marks.
A Valuable Business Asset
Lastly, your trademark is an asset and holds value.
Just like other properties, it can be bought, sold, and licensed for use by other businesses. Licensing trademarks are typically in cases like business franchising or brand collaborations. Your trademark could even be used as collateral for loans. With professional advice, you will be able to gauge your trademark’s value, and how to improve its positioning to make it an even more attractive asset.
Registering a trademark in Singapore is a structured process that could require lots of consideration and expertise to maximise its benefits. Don’t hesitate to register your mark and gain access to the protection, credibility and professionalism that comes with it (plus, application sequence does matter in trademark dispute cases!).
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