Imitation is supposed to be the purest form of flattery. However, it might be tough to be flattered when you operate a firm and discover that another company is clearly imitating your idea and every move you make.
When a new idea is effectively implemented, it’s natural for other businesses to try to copy it. Dealing with copycat competitors is a regular issue for most businesses, regardless of their industry. Those that steal your plans, strategies, moves, and occasionally even your name or logo will do so.
You’ve worked hard to set yourself apart from the competition. So, what should you do if your business idea is plagiarised? Here are seven tactics you may use to stay ahead of the competition despite copycats.
Protect Your Company Legally
The first step is to legally secure your company so that you can prevent such circumstances. The more legal protection your firm and product/service have, the better off you will be in the long run. Different sorts of intellectual property are protected by trademarks, patents, and copyrights (IP). A trademark protects logos and brand names on goods and services, while a patent protects an invention and a copyright protects an original literary or artistic work. You can select the level of security you require based on the nature of your organisation and the products or services you provide.
Second, you must safeguard your trade secrets, also known as business assets, which are a sort of intellectual property (IP). Manufacturing methods, assets, client lists, and sales plans are all trade secrets, and you may have to reveal a trade secret to your employees, suppliers, vendors, or other entities at some time in order to run a firm. Having someone sign a non-disclosure agreement (NDA) and/or a non-compete agreement is a straightforward way to secure your trade secrets.
Should a legal issue arise, these protections can serve as concrete proof, as they also provide timestamps for when your idea or business first emerged.
Confront The Person Or Business That Copied You
Contact a copycat firm or business owner immediately if you stumble across one. Call them and have a calm conversation with the people in control. Inform them that you are aware of their copying of your product and that you do not like it. Make it obvious to them that you will not hesitate to take legal action against them if necessary.
If talking doesn’t work and things get out of hand, contact trademarking lawyers, who can assist you issue a cease-and-desist letter or, if necessary, launch a lawsuit.
To Increase Brand Loyalty, Provide Superior Service
The majority of things can be easily duplicated, but exceptional customer service cannot. Customers will return to your business if you provide them with excellent service.
Make an investment in brand loyalty. It will be difficult for loyal clients to abandon you only to save a few dollars. Customers are astute, and they like to weigh all options before choosing your competitor.
Refresh Your Business
While you don’t want to lose all of your goodwill with your customers, it might be time for a business makeover. Make minor adjustments while maintaining your company’s integrity to demonstrate to your audience that you can adapt. This will also make the person or company who plagiarised you appear out of date. Consider this an investment rather than a cost.
Make Your Clients Speak For You
Asking your consumers for testimonials and/or other unique stories about you and your brand is one of the most effective ways to get your message out. These will be one-of-a-kind to your company and consumers, and no one will be able to duplicate them. Allow your customers to share their stories about their interactions with you and the impact you’ve had on them. This will also help to strengthen your brand and reputation.
Investigate The Copycat Competitor
In some circumstances, studying and learning from your copycats may be beneficial, since they may just help you grow. They’ll either make the same errors you did, or they’ll make fresh ones from which you can learn. These blunders may spark fresh ideas, reveal flaws in your own product or service, and/or call into question your assumptions.
Concentrate On Your Own Business
Finally, keep in mind that if someone is copying you, it’s because you’re doing something worthwhile. It could also suggest that you’re successfully leading the way, which is fantastic. So try to shut off all external noise and keep your copycats out of your thoughts. Rather, concentrate on developing your brand and making it the greatest that it can be.
Do You Require Assistance? Contact IPPARTNERSHIP For More Information
Look no further if you’re looking for the trademark lawyers Gold Coast. The place to go is IPPartnership.
Having a professional establish an infringement plan is the greatest method to protect yourself against potential trademark infringements and disputes. It’s important to note that, while you should be proactive in preventing any infringements, you don’t have to handle the situation on your own; competent, qualified guidance can save you a lot of time and money in the long run.