Basic Information About Trademarks
In the business world, the concept of trademarks is an extremely important one. Some people believe that their trade name will eventually be known as a trademark by registering their business in the company registry of a particular country. This is false and a common misconception because a trade name is not the same as a trademark.
A trademark is a symbol which serve to differentiate the goods or services created or offered by one business from those of other firms. Some identifiers in Malaysia that may be used for identifying goods or services such as words, signs, numerals, instruments, labels, headings, cards, titles, logos, marks, or any variations of the preceding may be referred to as a trade ark. In Malaysia, registration for a trademark is not mandatory. There is also no requirement for any business to begin using a trademark at any time. However, the registration of a trademark is very much advised because such registration provides distinct benefits beyond those gained by those who have not undergone the process of trademark registration.
The primary purpose of a trademark is to allow customers to set apart an item of a company in order to differentiate it from other identical or similar goods sold by rivals. Consumers who are satisfied with a particular product are likely to buy or use the product at some point in the future. For this reason, consumers must be able to easily differentiate between products which may be identical or similar. By allowing companies to differentiate themselves and their brands from those of rivals, trademarks are essential to corporations’ branding and marketing campaigns. They therefore serve to establish the image and reputation of the goods of the business. This would then lead to consumers developing an attachment to certain brands based on several desired qualities and characteristics embodied in those trademarks. Trademarks also provide an opportunity for businesses to continuously preserve, improve, and enhance of the quality of their products in order to maintain the positive reputation of items bearing the company’s name.
For many companies, a carefully selected and well-managed trademark is a valuable asset. Some companies even consider their trademark to be their most important possession. Such is the case because consumers value brands, the reputation of these brand, their image, and a set of desired qualities which tend to be associated with the brand. Such consumers are typically willing to larger amounts of money for a product with a brand which they know will fulfill their expectations, and this positive reputation can be bolstered through careful and judicious use of a trademark.
Due to the value and importance of a trademark in determining the market success of a product, it is essential for every company in Malaysia to ensure that all trademarks related to the company have been registered accordingly. The expenditures related to the commercialization of a brand can become excessive without registration of a trademark as rival companies, whether they be based in Malaysia or elsewhere, may choose use the same or similar trademarks for equivalent or similar products. If a competitor chooses a similar or identical trademark, customers might end up purchasing the product of the competitor company instead of the original one.
Of course, before your company may register for a trademark, it must first be incorporated. Fortunately for all who desire such, we at Paul Hype Page & Co provide incorporation services for any prospective business owner in Malaysia. We will ensure that your new company in Malaysia will be established in a way which will allow you to take charge of it in any way which you deem to be suitable.