What is the worth of my IP?
Many people do not know that their trade marks and other intellectual property is actually their businesses most valuable asset.
Leading companies such as Coca Cola and Apple spend thousands of pounds each year on the maintenance and development of their intellectual property. In return for this, their intellectual property and the goodwill attached is worth a lot more than any physical asset they own.
The key to the high value is the goodwill attached. This goodwill means the associations consumers make with the brand name as well as the pull and recognition the brand can have. This goodwill can have a big impact on the success of a brand.
This is what will raise the value of your IP.
If a brand can be sold with a following of consumers already attached, it will allow the products or services to hit the ground running and be one step closer to being a success.
Therefore, while it may seem a small investment to register your trade mark, it can build to be a major part of your business.
This will not only be important to your business as it runs but also, more importantly, if you look to sell your business in the future.
You can ask a much higher price and your business will be much more sought after if it has established intellectual property attached that can draw customers in.
To kick-start this build-up of goodwill and growth of your business, register your brand as a trade mark with The Trademarkroom today!
By Ellis Sweetenham