Arizona attracts creative innovators and entrepreneurs who bring novel products and groundbreaking technological services to the Grand Canyon State’s economy. When a business enterprise sets out to market a new product or service, however, establishing trademarks, logos and copyrights could make a significant difference in achieving its goals. As noted by Forbes magazine, almost every company will require some form of intellectual property rights to succeed.
Without legal protection, an entrepreneur may find his or her work or brand infringed upon. This could lead to a loss of profit and a possible need for legal action. It may also result in setbacks or cause significant harm to a business, especially when introducing new products after investing time and money testing and producing them. The ability to generate revenue and maintain relevance with customers depends on a company’s ability to position its product or services accurately and distinctively in the marketplace.
Branding for differentiation
New products and services differentiate themselves from their competitors through a strong branding strategy. This may include a logo, symbol or slogan that describes the brand’s appeal to its customers through advertising and marketing materials. When customers make purchase decisions, branding helps identify the company’s products or services and distinguishes them from the competition.
Applying for a trademark with the United States Patent and Trademark Office provides legal protection that ensures its owner has the exclusive right to use the registered brand identifier. Another company or competitor cannot use a trademark or brand differentiator without the registered owner’s authorization.
Controlling production and distribution
In creative works such as books, movies or musical compositions, a copyright grants the owner legal protection from unauthorized use, distribution or reproduction. When a “copyright poacher” infringes upon a registered work and offers it for sale, not only is it a civil matter through which an owner may sue for damages, it could also result in criminal prosecution.
Maintaining a registered federal trademark, logo or copyright provides legally defensible protection for the many types of IPs and resources required for marketing a product, creative work or service.