When you own your own business, chances are you have taken the necessary precautions to protect it. Have you considered also protecting the name of your business? This includes not only your trade name, but also product names, and domain names. All of these help to make up your brand name value. Your brand name value could be at risk if you don’t protect it.
The value of your brand is measured by the recognition of your business in comparison to other businesses in the marketplace. When you have plans to expand your product base, you will definitely want to have good brand equity. This is because consumers will likely recognize your existing products and associate them with the new ones.
If there is another company out there that has a similar name as yours, then there may be a bit of confusion for consumers. This is especially true if the other business doesn’t have a great reputation. You don’t want to have their bad reputation brought over to your business name due to this confusion. This is why you should always consider Trademarks in order to protect your business name.
You will also want to protect your online presence. Your domain names and accounts should be secured with high quality passwords and other safety measures. Even if you don’t already have a website in place, you might want to go ahead and register a domain name to keep other people from being able to use them.