There are many benefits for Joshua protecting its business ideas and products. As shown in the case study Joshua owns a copyright of the UK’s leading hair magazine. This is a benefit to Joshua as no other hairdressing companies can copy the style or layout of the magazine. This means that Joshua can stay the UK’s leading hairstyle magazine; therefore their brand becomes widely recognised. This could lead to a higher profit as people may only want the UK’s top magazine. However other brands may work their way around the copyright, and become a main competitor with Joshua’s magazine.
Protecting the brand name or any products of Joshua’s would be a huge benefit to the brand. This is because it would prevent many rivals from copying the brand or products. As shown in the case study (line 9 – 10) “Joshua trademark and brand were recognised and admired by over 60% of adults in the UK”. If other companies were to copy Joshua brand and trademark it could lead to confusion among customers, therefore customers would not be able to recognise Joshua as well as it had before. By protecting the brand, this can lead to a higher amount of sales revenue, as more consumers will recognise and brand. It could also lead to a higher profit, after more customers have visited Joshua.
Joshua protecting its products is a benefit to the business. This is because it stops other rival companies stealing the ideas/products and selling it as its own, Joshua products can only be sold through the franchise. By protecting Joshua products, it keeps Joshua products individual from its rivals; as shown in the case study (line 18) Joshua is “amongst the UK’s leading brads”. By protecting their products this can lead to higher brand recognition with the public, it could also lead to higher profit as more people recognise it and may trust the brand more.
In conclusion Joshua protecting it business ideas and...