Whether you sell your products online or in real life, the opinion of your customers is always very important. If your company has a lot of negative reviews, the odds of potential customers choosing you instead of a rival are low. One way to make sure your customers have a positive brand experience is by making sure you have good brand protection. In this blog, we’ll write about three effects of brand protection.
What is brand protection?
Before we get into the results of brand protection, it’s important to make sure you know what brand protection exactly is. By brand protection, we mean the steps taken to protect a company’s ID, both online and offline. This means no one can profit from an IP or ID without your company knowing about it, which will result in no lost revenue for you. If you’re not making use of brand protection yet, we suggest taking a look at onsist.com. These specialists know what it takes to protect a brand and will do everything to make sure you benefit from their service.
Why do you need brand protection? Brand infringement
A brand or patent can be violated, exploited, or abused in several ways. What follows is a discussion of some of the most well-known forms of brand infringement in the business world.
Misuse of a brand, or brand abuse, is a shorthand term for when a third party attempts to profit off of a company’s good name by embezzling a company’s intellectual property. The exploitation of a brand may take many forms, including but not limited to:
- Fake Goods Sold on Fake Websites
- Infringement of Copyright and Trademark
- Theft of intellectual property
- Fraudulent use of an existing online identity
Companies must take great care to protect their brand identities since they are vulnerable to trademark infringement. Counterfeiting is the most common and potentially damaging kind of brand infringement that has been explored.
Counterfeit goods are identical copies of legitimate goods that are sold without authorization. It’s a knockoff that uses the original company’s branding elements without authorization. To deceive consumers is the only motivation behind selling fake goods.
By 2022, it is projected that the worldwide market value of counterfeit goods would skyrocket to an astounding US$2.3 trillion. Infringing on a brand’s trademark may take many forms, but counterfeiting is one that specifically aims to dilute the value of legitimate brands.
Rogue websites are websites whose only purpose is to disseminate malware. This is accomplished by either directly attacking a legitimate website or by infringing on its intellectual property. The malicious website has many distinct iterations.
Imposter websites are those that look and function just like the official brand’s website.
Most “typo squatters” lurk in the shadows, waiting for unsuspecting web users to make spelling mistakes while entering a domain name.
Cybersquatters are those who fraudulently claim the internet domains of legitimate video game companies, making money off of the goodwill associated with other companies names.
The term “copyright” simply refers to the legal protection accorded to the owners of literary works and creative works. Although organizations may not be able to claim copyright for their material, it is nevertheless crucial that all information, including photographs and graphics, be safeguarded. Pirates may easily enter the market by fabricating products and passing them off as genuine.
People that engage in a trademark infringement or squatting do so maliciously. It manifests itself in a variety of ways, including as the filing of trademark applications for brands that have not yet been registered, especially those from other countries.
The pharmaceutical business is a prime example of one that grants patents for novel innovations. There is a significant risk that organizations or persons outside of the company may take the invention’s secrets and use them to make similar products without properly attributing the patent owner.
Fake social media impersonation
Recently, intellectual property information, including trademarks, has been widely misrepresented and infringed upon throughout social media platforms. Using the original company’s name, third parties build fraudulent social media profiles across several platforms and engage in branding promotion under its auspices.
The results of brand protection
No loss of revenue. First and foremost, you don’t want to lose revenue as a company. Your existence is based on making money. If someone uses your name to earn money, this means you miss out on a lot of money that could be yours. The products you make are now fully yours, which means only you get to benefit from the sales. Where needed, you can ask for copyright, so that even your ideas are fully safe and no one can take these without you knowing about it.
Customer trust. When a customer knows their data is safe with you, this is good for your customer trust. Many companies don’t value this high enough: when your customer trust is high, this creates loyalty towards you, but it also attracts new customers. The negative reviews we previously mentioned no longer exist: these are now turned into positive ones. Good customer trust is the foundation of your company to build on. Now that your customers know you have full control over your own name, they’ll believe their data is safe too.
Brand reputation. Every now and then you read about a company that messed up by spilling important details, or by missing opportunities that other companies went for instead. They take big losses, in both profits as customers. This company can’t be you! Your reputation is saved with the brand protection service of Onsist, as they make sure you’re the only to benefit from your ideas.