Trademark Analytics and Branding Strategies
As a Trademark and Analytics Agent, we provide trademark search, design, analytics, ideation, strategizing and filing globally. Entrepreneurs are familiar with trademarks but they are often unaware of how to strategize and make good of their trademark portfolios. People probably think that owning a trademark for life is the right strategy but there is a new thinking about it. It is called flipping the trademark for a profit just like what you do with properties - which is a good strategy during good times. But it is a better strategy during bad times as well. When things don't go the way you want it then it is better to monetise your assets so that you have cash to survive.
Smart entrepreneurs use a different strategy - they build up their trademark portfolios during the good times and sell of their intellectual properties when things go haywire. The strategic proposition to build trademarks and then sell them off later should be taken into consideration as a way to monetise properties for survival purposes. But how you go about it will need a good analysis of the intellectual property landscape as you can't just go into it without a thought. Here at Patentagentip we will help you to do a thorough investigation into the trademark and branding landscape before you go about building your trademark portfolio.
First and in simple terms, a Trademark can be a word (may be many), logo design, or slogan that identifies and distinguishes the source of goods of one entity from those of another. It could refer to a good or a service. Under the Madrid Protocol non-traditional marks like 3D, sound, smell, color and hologram can be trademarked. To put it simply, a trademark is a marking to be used on a particular item of good, the purpose being to identify it as being produced from a certain entity. When you sell a product, you have to identify it as yours, from your factory or whatever. You trademark it so that if people want to buy back the same good, due perhaps to its quality, all they have to do is to search for the marking, instead of searching for you, whom they might not know of. It is a trader's invention, so if you trademarked a certain item, others can't use your trademark in the goods made by them. In other words, no copying and riding on someone else's goodwill. If you sell something, trademark it and when your brand is well received, your trademark will become a valuable intellectual property. Of course you have to put in the effort.
Trademarks are in the forefront when we talk about marketing. You have a product and then you need to have a signature to front your marketing campaign - that is why you must have an appropriate trademark as first impression counts. It is therefore important to do an analysis of the trademark landscape to see where you stand among your competitors. The analysis will take into consideration the strength of your neighbours and the strategies of your competitors. The type of product or services comes into play when we view the landscape as well as to look out for any white space where you can penetrate with perhaps a new product or service. From the perceived trademark landscape we will be able to extrapolate into the future - that is where we will spark off products or services that you can pursue. If need be then we will help you to create the product or the services - the product will be innovative in nature so that you can better your brand image.
Trademark, being the flag bearer of a company will need to be promoted. The conventional branding exercise used to a straight forward exercise - like going around distributing leaflets and promoting items. But we are now in the internet age so the exercise should be aimed at the virtual space as most buyers will be found on the social media platforms. Branding in the internet space will be new to most entrepreneurs but it could only be done when an analysis is done to ascertain who are the players in that space - and also how strong they are. There are of course two main domains that need branding - exercise to help remote promotion. One domain that everybody is busy about is the social media space and the other is the web space.
Since everybody is familiar with social media, it would be an easy task if we will want to forefront our brand there. But branding in the social media is a very different game altogether - it is not like you try to just put up some articles or subscribing your opinion. Like branding in other areas, branding in the social Medias will require good thinking and a good knowledge of human psychology. You will need to say 'yes' using a subtle way so that people do not feel subjugated. Likewise you will also need a good understanding of human psychology to do well in internet branding as you can't just put anything on you web and expect people to come buy your offering - it will need careful thoughts from you if want people to buy your stuffs. Then you will need a good understanding of how search engines display the search results. A good command of SEO (search engine optimising) is a pre-requisite which will make your task of internet branding a real huge task - and time! However, we will be able to assist you with our recommendations after we have done a research on the Internet Branding Ecosystem and if you are interested then by all means give us a thinker.
Here is a little bit of what constitute a Malaysian Trademark
The Malaysian Trademark is governed by the "Trade Description Act 1972," and Trademark Bill 2019.
According to the Malaysian Patent and Trademark Office a trademark will have these features :-
"A trade mark is a sign which distinguishes the goods and services of one trader from another. A mark includes words, logos, pictures, names, letters, numbers or a combination of these." and "A trade mark is used as a marketing tool to enable customers in recognizing the product of a particular trader". And with the Madrid protocol, non-traditional marks like 3D, sound, smell, color and hologram can also be trademarked. But before you start any business, the first thing to attend to is the creation of your logo which will follow you to where you go. It’s your flag bearer.
Trademark registration offers you an exclusive right and extends to you a protection from infringers for a period of ten years, extendable for another ten years upon payment of renewal fees.
What is the value of this?
An often asked question is “Why do I need a trademark?” and we are here to submit the reasons why you should file for a trademark.
Here is a hypothetical case but a near to reality scenario. A small sized entrepreneur started a business of selling home baked cookies. So she went about strategizing about how to sell the cookies. Also on her mind is how to go about packaging the product. Well, she did come to the conclusion that it is best sold through online as it is the cheapest way. The next thing is through which medium to use – Facebook or a dedicated website came to mind. At the end she chooses Facebook advertising although she did not know that it will still cost a sum. Website marketing would mean that she would have to learn how to manage it and she realised that it was too difficult a task basing on what skill she had, which was not much to speak off. Then somebody advised that she should have a brand; all her relatives who have some experience in marketing said so. Finally she came up with a brand and a logo but she would have thought not to register it as it cost a sum. Anyway, she went about putting up the brand (her own) in Facebook and she managed to buy some stickers from an online service provider to put on her products. Well and good she was on her way to achieve success or so she thought! And after six months of selling and promoting through Facebook, and unfortunately for her, she got a letter of demand from a law firm asking her to "cease and desists" or be hauled to court to use the brand as it was registered by someone.
You could imagine how distraught she was because it was the first time that she received a lawyer’s letter; and a letter of demand at that! The lawyer was acting on the instruction from a company that had a similar looking brand and who had been using it for seven years. How did the company found out about someone using their brand? Well, that is advertising in Facebook is all about? It brought in good as well as the bad because it was in the public domain and every nosy parker will get access to it. So her case came to an abrupt halt or nearly so until she decided to take a new path, at least on the path of getting a new brand. And her financial lost, well luckily for her not much as she only went selling for six months. This is a case that is happening so often. So do not be penny wise but pound foolish. There is a value in registering a brand that you can call your own. Of course it is not immediately as it will take six months to know whether you can register that brand.
Trademark Analytics for you!
You must have heard of Trade Mark Analytics, right! But if not then here is a brief of what we do to help clients home in on what best to do.
This is what you can expect from a Trade Mark Analytics.
* Identify & track what your competitors do - also what your competitors are doing; some sort of business intelligence to gain insight about the trademark landscape.
* Identify & Track Industry main leader's intellectual properties like their patents, industrial designs that might be a giveaway from the context of their TM.
* Preparing for war chest. Some people term it insights but we would like to think of it as preparing for the war!
* Get advance notice of forth coming products/services before you see them in the flesh.
* Give you a third party insight into why your "brand" is not associating with what is termed sexy. It is a part of our "Brand Analytics" insight that you should not miss!
* Take advantage of a third party view of your struggling business so to say.
* You will combine the insights with your own strategy; this to beat on a new path - you will get relief as you shake off your competitors!
* And the most important of all we will entice you with the direction to go where others does not know off - literally go for the land grab!
* Launch new trademarks and products that may give synergy to your range of products - the more the merrier as it would help give the impression that your business is diversified!
Besides Trademark Analytics we also do trademark landscape to help you have a better insight of your competitors from local and foreign perspective. A trademark analytics discourse will help you in focussing of what you should do in terms of brandings, designs and patents. It is common knowledge that companies only focus on their trademark for their marketing. But there are other areas that they should focus in order to up their profile among similar traders. One of the factors that can bring about an increase profile is the industrial design area. Because of competition, some smart companies rely on a redesign policy to differentiate from their competitors. Redesigned products normally will give a fresh impact to your company's image. Redesigns could also incorporate additional functions to your product by way of filing for patents and utility models. To the normally thinking people, a redesigned product appears to be a cosmetic facelift, but for intellectual property practitioners, it could be a new product with new functions. We also help you to do a patent landscape and an analysis of what we can incorporate in your new product by way of our one of its kind Inventing-as-a-Service (IaaS) platform. Through this platform, we can help you to increase your profile as an innovative company which will also lead to a higher net worth company. It will then help you to get a higher valuation in case you are leading your company towards a public listing. You can also consider granting license if you do not intend to manufacture your product. We can do that for you because we have a team of inventors who not only can invent but also knowledgeable about your market. Do not fret if you do not have any idea as we will create that new idea for you. All you have to do is just give us a rough idea of what you have in mind even if it is vague! Give us a call then.
How do consumers relate to a trademark? Or do trademarks make a difference when consumers decide on their buying options? You would have an inkling that trademarks can make a difference in consumer spending but do you know that there is a science behind it - which is called neural marketing. Yes, scientist have made insights about how people react when they are exposed to certain brands - they have also scan the brains to see what are the reactions by using magnetic resonance imaging techniques. Marketers will do well to learn about neural marketing. It is all about the brand and so entrepreneurs should avail themselves of how a brand determines the buying mission. Here at Patentagentip, we will use neural marketing knowledge to perform a trademark landscape and analyse what to present. It is part of our trademark analytics program that can help you to drive more sales. In some cases we would advise to change their presentation when we find that the trademark does not rhyme with what they are marketing - when a trademark clashes with marketing. Even as neural marketing is a new tool for making consumer good impressions, we are hoping to see what other discoveries about how a consumer reacts to a particular trade description - we hope to help you out after the trademark analytics session. To further help you in your marketing we also have a program where we will help you to analyse your patent landscape Patent Analytics service is led by a team of inventors who are also well verse with market conditions.
It is common for companies to promote multiple products. There is a certain feeling that the more products the better for it would give an indication that the company is capable. It is more of a capability of manufacturing and not of marketing for others. Unlike other trademark analytics firm, we will look into the range of products that you have. The reason is that the types of products also reflect the company's image as it will show the prowess of the company. And the types of products also count - different products means a stronger image. Here at Patentagentip, we will help you to create different products from scratch - you don't have to angst against yourself just to think of what to create as we will do the hard work for you. After all its a part of our Philosophy to boot you up for better competition - worldwide
You will be able to monetize your trademark, copyright and patents through our tokenization plan. When your brand becomes well accepted, it will command a monetary value that might come to a few millions of dollars - so are copyrights and patents. Tokenization is the process of offering shares of your intellectual property rights through a block chain structure. There is a value in an established trademark and this can be monetizing through tokenization of intellectual property. If you are interested in having your intellectual property tokenized, give us a call.