The Value of a Registered Trademark
Nowadays the value of a brand cannot be put in monetary terms only, it is important to consider the influence that branding has in our day to day life.
To give an example, what is the first image that comes to mind when we say
You will not only think of a refreshing soda, but you will also think of a brand, it can be Coca-Cola, Pepsi, or your favorite!
And that’s why today we will talk about the value of a trademark.
There are two types of value when talking about a trademark, the tangible and the intangible.
This is more than the monetary value of the brand. It is estimated that the value of the most influential brands in the world alone can be more than a billion dollars.
For example, Forbes magazine estimates that the value of Coca-Cola can be as high as $56.4 billion. What is interesting about this amount is the way in which it is calculated, since 3 important aspects play an important role:
- The way in which the products are performing economically.
- The competitiveness of the brand
- The role of the brand in the customer’s decision to buy.
As you can see, the last two are more related to the second type of value.
The intangible value of trademarks has acquired much more importance and influence in recent years, since competition today is so great and varied. The best way to ensure that the customer chooses your product, and not another, is that they recognize and trust you for the impact that the brand has had throughout their lives.
This means that aspects such as credibility and company identity are much more present in the life of:
- Brands: as it allows them to be the owner of their business narrative, which means they can freely decide their values, mission and what their brand stands for, thus building a solid reputation for the product.
- Customers: as they feel identified with the brand story, they are more likely to choose it.
And it is these intangible values that make brands so powerful, with aspects such as color, a symbol or a word you can make a person know what your business stands for and what they should expect from it.
That’s why LEGALLY OWNING your brand matters, because it’s the way your story and your legacy will continue in history, through your work and through your brand.
If you want to find out more about the great importance of a trademark, watch the video we made about it!