Every business plan should include an IP strategy (intellectual property), to maximise the value of your intangible assets. Recognising the importance of your brand is key to unlocking your market potential.
1. Identify your Brand Assets
How do your customers find you? Do they hear your name, see your logo, or recognise your colour scheme? Each of these signs is legally a trade mark, and can be a valuable part of your business
2. Stand Out from the Crowd
Be unique and memorable. Don’t just say what you do – everyone is allowed to use those words. Choose something distinctive, which will make an impression, and grow with your business.
3. Check for Conflicts
Don’t be confused with your competitors. What comes up when you search for your name on the internet? You can also use the free online TM Check tool on the government’s IPONZ website. For peace of mind, ask us for a professional opinion on the risks of using your chosen trade mark (before you invest in marketing).
4. Protect Strategically
Registering your trade marks makes them easier and cheaper to enforce, but you don’t need to rush. The scope and timing need to be right to match your business plans. Factors such as offshore manufacture, expansion to a new market, or your position as a market leader may influence what protection is best for you. By getting to know your business, we can help devise and implement effective solutions tailored to your particular requirements.
5. Use and Enforce
Trade marks are immortal – but only if you use them. Be consistent, so your customers recognise the quality your brand represents. Don’t let competitors benefit from your good reputation. Our resolutions team can guide you through any disputes that arise.
With over 20 years’ experience in intellectual property law (“IP”), Virginia Nichols has spent the last three years deciding disputes about trade mark and patent registrations. Her advice to avoid problems is simple – think strategically and act early. Getting the right IP protection in place can avoid time consuming and costly legal disputes.
If you would like to discuss your intangible assets, please contact Virginia Nichols.