(Newswire.net — June 21, 2018) — An entrepreneur who is interested in doing business in Italy may need to register his or her trademark in this country in order to protect it from illegal usage. A trademark is what gives a brand its identity, it can be a combination of colours, letters, words and figures. It is important to know that consumers’ purchasing decisions are influenced by trademarks and consequently, the reputation built by brands.
Trademarks are also a valuable asset. They can appreciate in value over time, a perfect example being Apple, valued $29.5 billion in 2011 and rising to $146.3 billion and becoming 2nd most valued brand in 2018.
Simply puy, the more your business reputation grows, the more valuable your brand will be and hence, the importance of protecting it with a trademark.
Trademarks provide value beyond the core business and can lead the way for expansion, even from one industry to another, such as from clothing or eyeware, which was perfected by Armani’s signature style. The trademark can even lead to the acquisition of your business by a larger corporation as the 2017 $13.7 billion Whole Foods acquisition thanks to which Amazon went from digital to a physical dimension. Being the largest online business, no wonder Amazon is the world’s most valuable $150.8 billion worth trademark, as reported by Business Insider. Infact lack of diversification is thought to have led Google to drop on the list.
Trademarks are the most effective communication tool as they embody both the physchological, intellectual and emotional value created by the brand which is why consumers ultimately choose that particular brand over others. The beauty of trademarks is they do not have to be a word but a merely a symbol that can be understood in any language, an example being Nike’s swoosh.
So establishing a brand is pivotal to business success, but protecting it with a trademark is just as important!
Although it is not obligatory to register a trademark, it is both a brand investment and safety guarantee so competitors cannot take advantage of the value created by a specific brand. For example, when you go to Starbucks, you chose not to go elsewhere due to certain expectations and requirements regarding the coffee you are buying.
When it comes to Italy, the power surrounding trademarks is perhaps most emphasized as there is literally not even a possibility that someone can be unfamiliar with Itaty’s world acknowledged labels that have shaped the high-end industries, including fashion and cars. Valentino, Dolce and Gabbana, Versace are status symbols to say the least, not to mention what owning a Lamborghini or a Ferrari entails!
A foreign entrepreneur who is interested in doing business in Italy may need to register his or her trademark in this country in order to protect it from illegal usage. The marketplace is crowded to say the least and a company needs all the help it can get to distinguish itself from its competitors. But trademarks are not only about protecting the company but consumers as well so they cannot get manipulated by false imitatiors which will not provide them with quality service.
Many banks will not even allow you to open a business account under your business name if it is not trademarked.
In Italy, trademarks can be registered on products, companies and services. But starting a company in Italy can be difficult since it involves complex procedures. Fortunately, experts such as LawyersItaly.eu can be of great help during this process to make sure that your trademark adheres to copyright laws, moral code and that it does not contain elements that are against the legal framework. And after you successfully register your trademark with the Patent and Trademark Office, you can also use it in San Marino and Vatican.
“The team from LawyersItaly.eu is very qualified and benefits from extensive expertise in this area,” says a satisfied client, Mihai Cuc, Partner of Enescu & Cuc Law Firm.
At the end of the day, what may at first glance seem like a redundant step for an established brand, filing for a trademark can only benefit a company. Both well known brands and new companies should take precautionary measures to protect themselves.