Intellectual Property is beyond legality and business. Apart from it being a great valuable asset to the organization, it also brings in a lot of credibility and reputation to the organization. We will now look at five major benefits of a registered Intellectual Property.
1. Credibility and Brand Value: One major advantage of having intellectual property getting registered is that, your organization enjoys better position among competitors. It is a clear indicator to your competitors and your clients that you are serious about what you do. As Axiom Mark’s Subject Matter Experts often emphasize, “Credentials and Credibility” are building blocks of any successful business. A registered Intellectual Property safeguards your Brand Value by etching a sustainable position for your Brand Recognition giving a much needed boost for your product or service.
2. Legal Authenticity: Your Intellectual Property is your brain child, it is your sole property and it is illegal for anyone to use it without your approval or permission. To secure this legally, it is vital to register your Intellectual Property based on the demographic location you belong.This will facilitate you to enjoy better immunity compared to your Competitors. All IP registrations are governed by WIPO (World Intellectual Property Organization). However, each country has its own specific laws and regulations for registering Intellectual Property and it is important to learn and understand the local laws. Consult Axiom Mark’s business consultant to know more about registering your Intellectual Property in UAE.
3. Intangible Asset to a Tangible Asset:Any ingenious Intellectual Property is credited with much appreciation. It has been observed that, even if a company is being evaluated on the whole, its intellectual property will be evaluated on a separate basis. This is because each invention carries its own value and reputation on an individualistic as well as business perspective. Intellectual Property does not have an obsolete depreciation. With timely renewal and periodic subscription, a registered Intellectual Property ensures that your economic status and your brand value only increases consistently.
4. Mergers, Acquisitions and Return on Investment: Even if your business is declared as a sick unit, you can be sure that your intellectual property will do the needful for you. The same can be applied for mergers and acquisitions also. As it carries more value and reputation and it will be appreciated by everyone. A registered Intellectual Property gives you a legal immunity among your competitors letting you position your product or service favorablyWith thousands of new products flooding the retail industry, retaining customers pose a tough challenge to all businesses. Customers would always prefer to buy a product or avail a service which is authentic and legally bound. Collaborations or Expansions are ways for businesses to grow. And a registered Intellectual Property attracts potential Investors elevating the business to scale new heights.
5. Pride: Last but not the least, the feeling of creating something valuable and unique is magical! The Sheer happiness and Pride that comes with creating a unique product or service which is solely yours and backed up by the law is in itself worth all the hardships that went in to create your Intellectual Property. It is any Inventor’s dream come true, to be recognized for his Intellectual Property. This feeling of pride itself is motivation enough for any Business to create and innovate more products and services, and act as an Inspiration for many more achievers to follow their dreams.