Have you heard of intellectual property (IP)? To be honest, I wasn’t too sure what it meant and what it’s used for till I read some articles on branding and got to know the importance of this IP in branding your company, product or services.
According to the World Intellectual Property Organisation, IP is the intangible asset of human knowledge, ideas or innovations expressed in any form – literature, music, products, services and more. So brand owners need to be aware of this because their brand can be copied by someone else and they can create a ciplak item and sell it for a cheaper price. Or what happens if the buyer is not satisfied with the product or service without knowing the difference between the original brand and the fake one? It could mean trouble for the original brand owner, right.
I believe even in services like you see in restaurants or at a service centre, they need to be aware and know how to protect their rights in conducting their services… because what if one day another company is opened and provides the same kind of services but theirs is the bad version? People might think that is the same as the original company and spread the news about their misconduct of services. Sounds a bit scary, right? You might be in so much of trouble and dilemma trying to fix this issue. So it is better to be ahead and protect your brand before anyone else try to steal it away from you. Saves you the money, time and effort invested.
There are so many ways and means for you to learn about IP protection and how to get one for your brand. You guys should also read about why is it important when you are doing branding for your company, product or services. And also what type of protection you can get for your branding effort. Apparently there are two different types; one is known as intangible values and the other, tangible values. The intangible values are the Emotional Selling Proposition (ESP) which indicates the emotional attachment of consumers with the brand, whereas the tangible value is via protecting its Intellectual Properties (IP) that come in the form of trademark, copyright, licenses, patents and more.
If you haven’t done anything about protecting your company and all that belongs to it including the names, logos and what not, you guys should seriously think about it right now!