Yes, you probably should have a trade mark.
Business owners tend to make money from their business in two ways – through revenue (that is the sales income of the business) and through capital gain. Capital gain is the growth in the value of your business over time. Capital value is comprised of the value of tangible assets (e.g. the furniture and equipment) and the goodwill. The goodwill value is that amount which exceeds the value of the tangible assets. It is sometimes expressed as the value of the potential of the business, or its future earnings, or the value of its brand.
Brand value can be material, and is an important source of goodwill. For that reason, it is essential that you take necessary steps to protect your brand. If you don’t, the value of the brand can be materially reduced – potentially to nil.
You can protect your brand, and indeed have ownership rights over it, be registering your brand as a trade mark.
A trade mark is a sign used toA�identify, and importantlyA�distinguish,A�particularA�goods or services. The sign can take many forms, includingA�a word, symbol, letter, number, phrase, sound or shape, or any combination of these. A business logo can usually be, and often is, a trade mark.
It is very important to understand that a trade mark is different from a registered business name, company name or domain name. None of these things will provide you with exclusive rights in respect of your brand. Only a suitability registered trade mark can provide you with exclusive rights.
So, if brand is important to your business, consider taking advice about securing it in the form as a trade mark.