For every tech business, innovation is at the heart of everything they do. The innovative ideas and processes behind each tech business are vital to company growth. Once a patent is created, this protects the invention and the processes within the physical invention.
Where the value and revenue lies is within the strategy of putting that new technology to market. Succeeding in your chosen market revolves around how your consumers/clients view your business from an external space.
What is it about your business that makes them choose you?
Once you know what these are, which could be logos, company names, slogans, product names etc, trade marks must be used to protect these. Trade marks are needed to act as an intermediary between innovative ideas, and a bullet-proof, reputable brand.
Once you have built up a portfolio of IP sources, small or large, this creates a bridge between you and future investors. Demonstrating that you can manage risks to your IP to investors means you acknowledge your company’s intangible value, meaning that they know you are taking your brand and ultimately your business seriously.
Case Study: Thirsty Beasts v Monster Energy
This consumable brand tried registering the slogan “Rehab the beast” as a trade mark. Monster Energy heard of this and opposed against the registration based on their use of their own trade mark “Unleash the Beast!”
While this case is based on two consumable brands, this can affect a technology business in the same way. If any sources of intellectual property clash with a bigger brand, they will have the resources to fight the case, whereas a tech start-up will not have such an advantage.
Ultimately Thirsty Beast won the case based on their use of imagery and colour to distinguish it from Monster’s slogan, however after winning this case, Thirsty Beast was set back £75,000.
Don’t let this happen to you.
For over a century, TMOA has specialised in creating and protecting value for the entrepreneurial business in every country where registration and infringement are possible, from Afghanistan to Zimbabwe. We help businesses maximise and secure the real source of their value, globally if needed.
Visit www.tmoa.com to find out how we can help your business protect, enhance, and realise value.
