A trademark is an asset to brand the company name and the products or services. A trademark is an intangible thing that helps to position the brand name into people’ minds and make people perceive that the product and brand name are inseparable.
A trademark is also an intangible asset that improves the company or brand’s reputation without paying a single cent. In addition, it can be transmittable, transferable, investable and sellable.
The primary function of trademark is to differentiate the products in same kind. As the market has so many types of similar product, so with a trademark, people can clearly differentiate your product with your competitors’.
A trademark represents the brand as well as the quality of a product, as the market is so competitive today, therefore, a trademark can enhance the competitiveness by positioning the brand into people’ minds that “think of canned drink, think of Pepsi”.
Improve Product Quality
When a trademark been registered for enhancing the competitiveness, in order to avoid the reputation of the trademark being ruined, the owner would try hard to improve the product and service’s quality to satisfy customer’s needs.
Global Business Expansion
Product branding plays a very important role in business expansion. Branding is a way to make people recognize the product or service but, without a trademark, branding might fail because people unable to recognize the product or service.