Why should you take care of your intellectual property?

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It is a fact that intellectual property is not tangible like conventional fixed assets but even then, owners have to be careful that they are not stolen. If you own a villa, you would never let anyone take over unless you plan to sell it.

Similarly, if you have a brand image and another company uses it, the exclusive factor connected to your organization will vanish. Smart business owners ensure that all their intellectual assets are properly protected and keep an eye on it using cutting-edge technology named as reverse image search.

Why should you take care of your intellectual property?
Photo by freestocks on Unsplash

Here are some of the many factors, which show why entrepreneurs should be careful about their corporate image, tag line, product caption and similar ownerships.

Search by Image, using this Advanced CBIR, updated and Multi-Search-Engine image search tool. It shows the most similar images, memes, profile pictures along with their location and ownership information.

Getting an upper hand in the competition

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It is impossible to find a corporate sector in which companies do not compete with each other. Suppose that you plan to launch a new brand for makeup. Would you be able to acquire a dominating position immediately? The confirmed answer to this question is no. Established brands have a well-defined regular clientele. For any new company, toppling them and attracting buyers is the hardest of tasks.

  • One of the companies may have the most dominating position. This happens when a company offers exclusive products to its customers. As a result, they get attracted and rating the brand highly. Let us reconsider the example of a makeup company. Suppose that the top-rated company has an exclusive collection of red lipsticks for which an individual logo has been designed. What will happen if this top-ranked brand fails to protect the logo and a rival uses it? This would bring the company down on the rank list due to the elimination of this exclusive offering.
  • Protection of patents, company logos and other similar belongings is mandatory if you want to stay at the top. It is quite easy for a brand to go down the preference list but the reverse route can be quite challenging. Once customers feel that a company does not have anything out of the box, they would start looking for alternatives. To retain a strong position, brands should be careful about their images, punch lines and logos.

Customers look for the X factor

If you have to buy a product and five brands are offering the same thing, would you pay attention to a select a specific one? There is no point in performing comparisons and paying attention to a particular brand because none of them has exclusive offerings.  Let us change the situation slightly. What would be your reaction if one of the brands is offering the product with additional features? It is very much expected that you would pick it. As a consumer, why would be your reaction different after the altered situation?

  • People get attracted to exclusive things whether is buying products or having a look at a group of kids. If ten children are playing in the park and one of them is wearing sharp green clothes, you would surely notice him. The prime reason is that his clothing would appear different.
  • Outstanding intellectual components help brands in conquering markets within no time. For instance, suppose that there are ten clothing brands selling T-Shirts and one of them has a three-dimensional logo, you would notice the brand even if the intention is not there. Unique logos and brand images play pivotal roles in getting the attention of buyers.
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Protection of business ownership 

An official logo is the identification of a brand. A company registers it before its formal launch. The purpose of this unique image is differentiating the brand from other companies working in the same sector.

  • Business ownership is always at the risk of fraudulent attacks. By following certain practices, companies can prevent them easily. One of them is keeping an eye on patents, copyrights, brand logos and other related constituents. Suppose that an illegitimate firm copied your image and reuses it. If no action is taken in a timely manner, the fraudulent company can immediately challenge you for the ownership. However, brands have proper legal partners to combat these situations. Infringement of copyrights is a crime and results in severe actions.

Acquiring a constant position

Each business sector has several companies competing with each other.  The number of companies does not make a difference because each of them would have unique corporate trademarks. One of these components is the business logo. Two companies cannot have the same business image as this erases the differentiating factors.

  • There is nothing uncommon about corporate frauds. Several well-established brands have wrapped up in the past due to these techniques. Companies have to implement a watchful strategy so that they do not fall prey. Protection of copyrights is an integral step in this relation.
  • What is the most unique thing related to any company? It is the official logo. This unique image can never be the same for two brands. However, scammers and illegitimate low standard firms are always on the lookout to copy company logos and reuse them. If your logo is stolen by a brand and no legal action has been taken in this regard, it can claim ownership of the company that actually belongs to you. The best thing is keeping an eye on your copyrighted existences. This is not about the logo only.
  • The official company image is not the only thing at risk. At times, captions and punch lines are reused as well. Organizational management should be well prepared for all such problems.

Conclusion

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Violation of patented copyrights is a common problem that organizations face. If a brand has a unique logo, its rival may thing about reusing it illegally. Here, the similarity percentage makes a lot of difference. In some cases, brand images are reused after very slight changes. Even this is counted as an illegal practice.

Intellectual assets may not be touchable but they have the same importance as the normal fixed assets. To prevent corporate losses, brand owners should be watchful about illegitimate bodies.

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Why should you take care of your intellectual property? - Brand SpurWhy should you take care of your intellectual property? - Brand Spur

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Why should you take care of your intellectual property? - Brand SpurWhy should you take care of your intellectual property? - Brand Spur

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