Importance of Trademarks
Trademarks establish goodwill between the source of a product or service and the consumer. They uniquely associate a product or service with a particular source, even if that source is unknown to the consumer. Thus, trademarks help businesses build and retain demand for their products and services while enabling consumers to quickly identify and make a purchase based on a recognized trademark.
A well-chosen and well-publicized trademark often has value far beyond the physical assets of a company. This is almost universally true for consumer product trademarks such as NESTLE® and COCA-COLA®. Moreover, some trademarks, are estimated to be worth more than twice what they generate in annual sales because the worldwide name recognition and established marketing network results in a higher market share and higher profit margins.
If you need to register a trademark or perform a search to see if your mark is already in use then contact Drake Marks today at (604) 669-4979.