In an economic context where consumer spend is diminishing, it’s more important than ever for companies to develop a relationship with the people who buy from them. One way of doing this is by developing a brand. Historically, filing a trade mark application has been a lengthy and expensive process. However, a recent report conducted by the Intellectual Property Office has found that it is now cheaper and quicker than ever, to get a trade mark for your company and start building that all important brand.
Electronically filed trade mark applications are now 15% cheaper,the whole process has become more efficient and streamlined with the objective of making it easier for recently formed companies to establish and protect their intellectual property.
James Drake, owner of recent company formation ‘Moth’, comments: “It was always one of our top priorities to trademark our brand. As a luxury home ware brand we operate in a fairly saturated market, so we new from the start that it was important to differentiate our product from everybody else. Building the Moth brand enabled us to do this effectively.”
“The cost of trade marking is marginal compared to the long term value it will add to our brand.”