Registered trademarks in UAE and internationally are extremely valuable business assets. Trademark accounts for at least a third of corporate value, on average. The most valuable brand of the world was estimated recently to be worth at least USD$180 billion.
Creating and protecting registered trademarks aren’t a mere cost for doing business. Rather, trademarks are investments in consumer goodwill, resulting in higher sales and even greater customer satisfaction.
Reasons Why Registered Trademarks are Good for UAE Businesses
Benefits of trademarks for brands and businesses in the UAE are:
Creation of a valuable asset for monetization
Trademarks appreciate value as trademark owners use them in commerce. The more the reputation of the business grows, the more invaluable a brand becomes. A trademark registered in UAE offers a benefit that is beyond the core operations of a company. A trademark can lead to expansion from one industry to another like from personal care products to eyewear and clothing. Should you desire it for your business, the trademark can even lead to a business acquisition by a much larger corporation.
A trademark is a property asset just like real estate. In the UAE, trademarks can be sold, bought, or licensed. They can even be utilized as lien or collateral when securing a business loan for growth and expansion.
Take note: trademark registration in UAE can be a bargain. The UAE Ministry of Economy offers attractive rates for applications. There are also trademark specialists that offer trademark registration services in UAE to help you register your brand more quickly and smoothly.
Effective use of social media and the internet
Trademarks allow businesses in using social media platforms and the internet as a whole effectively. Your brand is what the customers enter into search engines or social media platforms when they look for your offerings.
Higher traffic on websites and social media networks translates to higher rankings. This means you can bring in even more traffic, stronger brand recognition, and more customers!
Easy access for customers
A registered trademark in UAE makes it incredibly easy for consumers to find you. The marketplace is already crowded. It can be hard to distinguish a business from its competitors. This is especially true as businesses are now competing globally rather than locally. Trademarks are efficient commercial communication tools, which capture customer attention. They make business products or services stand out.
Customers viewing trademarks immediately know who exactly they’re dealing with. This includes the reputation of the business. They are less likely in looking for other businesses to buy from. A brand can be the most critical factor that drives the purchasing decision of a customer.
Easier recruitment and hiring processes
Trademarks allow for a much easier hiring process. A brand can inspire pleasant feelings in the minds of people. As a result, the employment opportunities offered by your business become more attractive to the top talent around. Employee retention is also higher when staff members have positive emotions for the brand, including the goods and services offered.
Development of effective communication tools
Trademarks are effective communication tools as we’ve talked about earlier. In just a single logo or brand, a trademark can convey emotional and intellectual messages and attributes about you, the company, its reputation, as well as its offerings.
A trademark does not need to take the form of a word. A design can also be recognized. The “Swoosh” design of Nike is recognized throughout the globe regardless of the native language – even English or Arabic.
Ways to Monetize a Registered Trademark in UAE
As soon as you successfully register your trademark with the help of trademark specialists in Dubai, UAE, you have several options for monetizing it. This includes:
- Licensing – you can license your trademark and allow another company in using it for certain goods and services. Licensing a trademark is very common for all industries and sectors. Sports teams even allow other companies in using their team mascot and name for anything. Car washes, celebrities, fashion designers, and even restaurants can even license their trademarks.
- Securing capital – securitization of trademarks allows businesses to generate financing. This is when companies utilize the value of their trademarks to get loans approved.
- Co-branding – you can co-brand with another business wherein each party to the deal takes advantage of each other’s strengths and assets such as trademarks. A good example of this type of joint venture is Dr. Pepper and Bonne Belle. These two giants team up on a line of flavored lip gloss. Hershey’s and Betty Crocker have also collaborated on new brownie flavors. Lastly, Apple and Nike have worked together on devices for athletes.
Monetizing registered trademarks in UAE can bring in substantial revenue streams for businesses. However, to take advantage of this opportunity, growing businesses and startups need to look for effective ways in protecting their assets.