Have
a big idea? Dreaming of ‘Kab Banega Crore pati’?
Driving down the road…and flash! You hit upon an idea that
could change the world. An idea that will put you into the annals
of history as a pioneer…but how and where do you start? I’ll
help you find out.
Be
a Trade'marksman'
Patents,
copyrights and trademarks- the association of brand names and
products is vital for recognition. Nike and the 'swoosh', photocopiers
and 'Xerox', Jeans and 'Levis'- the association is almost seamless.
The
value-add that a brand name brings along is immense and financial
experts evaluate it one of the main reasons for a company's financial
success. In recent times there has been a sharp rise in the number
of trademark registrations and the Internet boom that has contributed
much to this.
A
brand name should be researched well before it registered. It
should be catchy and have a brand recall that is high. Most people
rely on the brand name for the sake of quality, so make sure your
brand is not duplicated. Entrepreneurs should be vigilant to spot
any trademark duplications in the market as it may reduce the
credibility and quality of their products.
After securing the trademark you need to patent the idea behind
the product. Duplications are rife and if the necessary precautions
are not taken, you may lose out on a lot of income. Most entrepreneurs
spend a lot of money in R&D efforts and the only way they
can stand to gain from it is by patenting the product. This prevents
any imitations using the same technology or ideas. Patents also
help the entrepreneur in fund raising efforts. He can approach
banks for loans to kick-start his business.
Copyrights are equally essential especially to publication houses,
writers and content on web sites. Designs and motifs also need
a copyright to avoid duplication. The importance of copyrights
should be communicated to all employees, and repercussions of
copyright infringement should be explained. Employees should be
aware of the fact that not even a single sentence can be copied
in its original form from any copyrighted source.
With brand-awareness having caught-on, the need for successfully
patenting a product and securing a trademark or brand name becomes
imperative, so carve a niche for yourself through successful trade'marksmanship'.
Have
a big idea? Dreaming of ‘Kab Banega Crore pati’? 
A
brand name should be researched well before it registered. It
should be catchy and have a brand recall that is high. Most people
rely on the brand name for the sake of quality, so make sure your
brand is not duplicated. Entrepreneurs should be vigilant to spot
any trademark duplications in the market as it may reduce the
credibility and quality of their products.