A trademark is a word or logo that distinguishes your product and service from other similar models, it acts as protection against customer confusion. While nobody is required to trademark their brand, it does offer your business wider protection as registered trademarks are legally enforceable on similar brands encroaching on your USP, i.e, unique selling point.
You can trademark various aspects of your business, such as product/services names or the business names, or for wider protection of course trademarking both if they meet the eligibility requirements. Of course, while trademarking is not a legal requirement there are a number of benefits, most notably avoiding legal action or bringing legal action in the event that others use similar business names, by registering for trademark other businesses are put on notice of your business/ product names.
As a small business securing funding is a vital component for success, a trademark can encourage investors and even boost chances of securing government grants.
Nevertheless, a trademark is not guaranteed, an application must be completed before applying, it may be advisable to seek legal consultation to assist in that process and ensure a smooth application process. It is a lengthy process and while not a requirement it will provide great brand protection and drive business growth.
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