Every business owner’s biggest issue is to manage their vast trademark portfolio, in order to identify any misuse and take swift actions to rectify it. Without efficient trademark vigilance, not only would it be easier for malicious users to infringe upon the trademarks, but it may ultimately lead to huge losses being suffered by the business entity.
Trademark Portfolio Management is the punctual and strategic management of all legal processes related with a trademark ranging from its registration and maintenance to complete protection. Impeccable and efficient trademark portfolio management enables a company to keep the business related with its trademark secure and profitable always as trademarks builds a company’s identity.
Trademark Portfolio Management is a smart way to manage one’s trademarks and it encompasses various services. It becomes extremely necessary for companies that own multiple marks and by delegating this responsibility to a professional, the company can ensure efficient management of trademark portfolio.
Trademark portfolio is an incredible asset and earning profits from an existing trademark is a holistic process in itself. The portfolio needs regular monitoring and auditing in order to keep the profits rising. Valuation of trademark is also important from time to time to secure loans or finances for business. Even a single infringer can lead to a sharp decline in sale of the product/service. Apart from that, the trademark portfolio should be aligned with the overall business strategy of the company. A trademark expert provides services by which the complete virtual presence of the concerned marks is diligently checked. Even on ecommerce websites one can find counterfeited product being sold by multiple sellers using a renowned name for their own benefit which directly affects the trust of targeted audience since the quality of the product is at stake.
Also, increasing profits with the intellectual property is not enough. One should only and only register trademarks that are strong and different in order to avoid rejection and obstacles at a later stage. Recognizing and differentiating strong trademarks with the existing ones is a task that utilizes efficient knowledge of various legal provisions.
It becomes quite imperative for business entities having quite a lot of trademarks to engage a trademark professional with strong abilities so that it can be ensured that no violation takes place. If this is not done, the business is in danger to lose not only its reputation but also suffer heavy losses.
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