“Imitation is the sincerest form of flattery”
Oscar Wilde may have delighted in the idea of others copying his works. To him, copying was an acknowledgement of the value of his work and helped to promote his talents.
In the commercial world, imitation can result in the complete opposite. It can lead to a loss of recognition of your brand and can lead to economic disaster if your brand is confused with another deceptively similar brand. Further, your well earned reputation can be tarnished by the inferior goods and services of the other brand.
Good brands lead to brand loyalty which leads to success. That success needed to guarded.
But constantly worrying about what your competitors are doing or trying to do to your business can equally diminish your financial achievements. Rather than letting imitators get into your head, you should be a like a good chess player and be three moves ahead of your competitors. Your focus should be on what are your business assets and how best to protect those assets from any move that your competitors may make.
Trade Mark Registration
Forward thinking is the key to successful intellectual property protection.
Imagine if you built up a business in Australia to the point that your brand name was known and you had developed brand loyalty only to find out that,because you failed to register the trade mark, another trader had successfully registered the same or substantially the same brand name. How would you feel?
Sure, you may be able to ultimately reverse the position by initiating legal proceedings and gain registration of your trade mark, but at what cost legally and how much time will be taken up from your core business?
Or imagine that you have protected your brand in Australia and built up your business to the point where you want to take your product or services overseas only to find out that your trade mark is already being used or registered,thereby locking you out of the overseas market unless you create and use a completely new brand name.
To check mate your competitors, you need to, from the outset, create a registrable trade mark, register it in the market places that you currently will operate and plan to operate in at some stage in the future and then police the market place for infringments.
If your business is not in a sound position to prevent imitation of your trade marks or if your trade marks are not registered in interested overseas markets, now is the time to make your move to be ahead of the game.