A strong brand is one of a business's most valuable assets -- that is why it is crucial that companies safeguard that identity. A trademark can help.

Trademarks legally protect the components that help brand a business including the entity's name, logo, or tagline. Beyond the legal benefits, trademarks are also a practical tool to help companies grow, establish customer trust and secure their place in competitive markets.

"Trademarks do not just protect logos or names, they protect a business's reputation," explains Miralda Ishkhanian, COO of Honcho, a one-stop-shop of business services for startups and small businesses. "A registered trademark signals to the market that your brand is professional and worth safeguarding."

A registered trademark provides exclusive rights to a brand's name, logo, or tagline, preventing others from using it without authorisation. This protection is vital for stopping confusing and harmful behaviour from competitors. Things like plagiarism and branding imitation have the potential to damage customer relationships and business reputations. Take McDonald's, for example. Without a trademark on its name, golden arches logo and familiar marketing taglines, the well-known multinational fast-food chain could be susceptible to competitors capitalising on the corporation's established reputation but failing to perform at the standards of the chain. This inevitably will drive down customer satisfaction.

IP Australia's report demonstrates the growing importance of trademarks. In 2022, over 80,000 trademark applications were........

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