Nowadays you can always see the symbols ‘TM’, ©, ® and more appear in advertisements, billboards, banners, etc… When you see these, you know that the particular name, logo or slogan is protected. It is exclusively owned by a brand. We cannot simply take it for our own usage or we will violate the Intellectual Property (IP) laws. In branding, you can see these quite frequently now as the consciousness of getting your IP protected is increasing. All the brands around the world will not want to have a copy cat in the market to share with their target markets as well as the benefits they can gain from the market.
However, why should we get our brand protected? What are the benefits of getting our brand protected? Most of the brands have their own Unique Selling Propositions (USP) that differentiates themselves from the rest of the brands in this flooded marketplace. Therefore, it is important for you to get your USP protected in branding so that you do not need to share this exclusivity with other brands which in return can help to strengthen your stand in the market.
Apart from the tangible form of protection to your brand, you can also protect your brand through the Emotional Selling Propositions (ESP) that you have built with your consumers. Let’s look at Apple. Many consumers tend to relate to Apple’s fun and cool personality. Though there are many imitation products in the market, consumers will still go for the genuine brand when they want to get an iPhone or iPad. Same goes to LV. When people want to buy a luxury bag, most of them will still go for the genuine LV though the imitation is much cheaper and looks exactly the same as the authentic bag. Why does this happen? This is because the brands are protected by the emotional connection they have built with the consumers which no other brands can steal away or copy. Thus, it is essential for you to build your own ESP in branding so that you will not be afraid of the copy cats in the market.
After spending so much of time, money and energy in building your brand, don’t you think it is crucial for you to make sure that your brand is being protected in both tangible and intangible forms? Don’t you want to stop other people from copying your brand and making it generic in the market? So, do not hesitate to protect your brand from top to toe. Do not also stop at one point but continue with the necessary branding efforts as well… to make your brand go further than anyone else!