How can a trademark, business name, company name or domain name help my business?
Your trademark, business name, company name and domain name are among the most valuable assets of your business.
When your customers want to find you, they will look for your names. When a new customer tries your product or service, and wants to buy it again, the customer will look for your names.
If you introduce a new product or service, customers will try it because of the reputation of your other products that they already buy.
Recognisable trademarks and other names help you achieve:
- repeat business
- new business
- greater earnings and profits.
Your names represent the largest part, or sometimes the only part, of the goodwill of your business. A new business that needs to get recognition in the marketplace and develop goodwill will gain that recognition and goodwill through its name.
While you are developing recognition and goodwill, and when you achieve it, you will not want:
- a competitor to 'free ride' on your reputation, and use your goodwill, by using your name or a similar name
- a person, whether a competitor or not, employing your name, or a similar name to confuse the marketplace, whether intentionally or unintentionally, thereby possibly damaging your reputation and goodwill.
Trademarks, business names, company names and domain names are a part of a branding strategy that may include other things such as packaging, jingles, music, catch phrases, personalities, etc.
- Last reviewed: 29 Sep 2020
- Last updated: 13 Jun 2016