The advent of the internet has heightened the importance of simple, easily understood brand names, it has been claimed.
Writing for HispanicBusiness.com, Stephanie Storm explained that with more people using the web and in particular search engines, many are discovering products and services in this way.
She noted that trademarks – the names or symbols associated with a specific company or product – can be “tremendously valuable” to companies building a brand.
And with consumers now able to do business with companies around the world, they have never been more important.
“With so much at stake, companies are much more likely to fight over trademark rights,” Ms. Storm suggested.
And this can prove difficult for small businesses, who may find it harder to defend their intellectual property rights in a court of law.
As such, it is vital to ensure all trademarks are registered as soon as possible, to avoid any ambiguity further along the line.
According to the World Intellectual Property Organization, trademarks are the most common form of IP, more so than patents, copyrights and service marks.