While modern technology has provided numerous opportunities for businesses to thrive, it has also led to a proliferation of malpractice and fraud.
As such, cases of companies being exploited have risen significantly, which often leads to loss of value and, consequently, revenue. For this reason, protecting a brand cannot be underestimated.
• Keep a good reputation
• Prevent tampering
• Create legal divisions
• Preserve value
A good reputation is pivotal to the success of any business. With the rise of technology, it has become easy for people to tarnish other brands' reputations by selling products under false brand names. For instance, one may decide to sell substandard goods using a famous brand's domain, and hence spoil its name among consumers. A legally protected brand, however, is difficult to replicate and can be relied upon as a safeguard from illegal activities.
Tampering of products is a common phenomenon, and in some cases, it can have dangerous effects on consumers. For example, if an individual distributes a contaminated beauty product under a famous brand's name, the original company can be liable for the damages caused to consumers. To reduce these risks ensure the company is following government and industry standards and is diligent in providing alternate means of packaging, delivery, and testing to avoid potential tampering. If it does occur, however, decisive action should be taken to ensure the company's integrity. Taking appropriate actions to prevent possible tampering or modifications can help protect your company from being held responsible.
Legal divisions help to save businesses under one brand from affecting each other negatively. Therefore, in times of a crisis, you do not have to lose all your businesses. Create these divisions by separating them with LLCs independent of each other. To find out more about how to start an LLC check out our blog on Starting an LLC in California.
The value of a brand is what attracts it to consumers. A legally protected brand is less at risk to be counterfeited, and hence, it maintains its originality. Moreover, the fact that it is legally protected means that every product or service associated with it can be trusted. Conversely, a brand with no legal protection is vulnerable to exploitation, and in the end, it can lose its value.
Legal brand protection is critical in safeguarding a business for the long term. Failure to protect it might subject it to exploitation and abuse from opportunists.
The blog posts provided on this website do not, and are not intended to, constitute legal advice; instead, all information, content, and materials available on this blog are for general informational purposes only.