Trademarks are used primarily to protect organisations from being infringed upon by other business trying to get in on their act. They help protect a firm’s ‘intellectual property’ or ‘special formula’ that makes their business and product unique.
Trademarks are important to consumers too, as it also helps establish the quality of your goods in the minds of your customers.
A trademark isn’t just a little logo or special visual device that sets you apart, it is a business registration that ensures different businesses are not selling products that are virtually the same.
It allows consumers to pick the right product they perceive to be your brand and prevents them not from choosing products which may be confused with another organisation.
Also, they are important as they discourage counterfeiters and impostors and allow you to take legal action against those you feel infringe on yours.
Not all business need a trademark. If you are selling a simple product or service then registering trademark might not be needed. However, if you have developed a unique service or product such as a software application or innovative medical device it is best to get registered as soon as possible.