Intellectual Property for Pre-Owned Boat Sales Boat

Intellectual Property for Pre-Owned Boat Sales

Boat World plans on selling pre-owned boats purchased in Florida to newly emerging yachting, jet-ski, and small boat enthusiasts in Saudi Arabia. Given the demand for cheaper alternatives to new jet skis, boats, and cruisers/yachts that exists in the country and the relative lack of any supplier or retailer meeting this demand, it is believed that such a business venture will be highly profitable. Unfortunately, it is of course impossible to claim any sort of exclusive right to this business plan; it is not unique enough in its design or any of its processes or products to warrant protection from national or international intellectual property laws. Once the business takes off, then, there are likely to be other competitors that spring up and follow suit, and so my company Boat World will need to find ways in which to differentiate itself to consumers, and to capitalize on and protect this differentiation.

There are a variety of intellectual property concerns that are applicable to Boat World, both to ensure that competitors don't take advantage of Boat World's identity and to improve Boat World's direct response from consumers and its market share. Creating a strong brand identity depends upon the development of successful and effective intellectual properties attached to the business, and pursuing the rights attached to these intellectual properties in a vigilant manner the prevents them from becoming diluted, misappropriated, or used in a downright fraudulent manner. Several different intellectual properties that could potentially be used to brand and market Boat World are discussed below, and their potential effects and benefits to the company are also assessed and described along with potential abuses by competitors.

The first piece of intellectual property that the company should obtain rights to is the name itself, Boat World, which is easily brandable as well as descriptive of what the company intends to do -- bring boats from (eventually) around the world so as to provide the highest quality and most affordable selection for the company's customers. By preventing others from impinging upon the rights to this company name, a brand can be built around this name that will make it a sought-out destination by those in the market for the company's products, and something that can easily be spread via word of mouth as well. The company's slogan, "Quality Pre-Owned Boats at an Unbeatable Price," should also be seen as a protected piece of intellectual property; though it does not have the same marketing potential as the name of the company itself it is a specific claim that the company wants to make, and though obtaining intellectual property rights for this slogan cannot stop competitors from saying something similar, it will prevent them from confusing customers by making the exact same claim.

Other intellectual property that Boat World should develop and obtain rights to include a graphic logo that incorporates the Boat World name, perhaps a spokesperson or character with a specific catchphrase to be used in advertising efforts, and other unique and identifiable marketing materials. By building a stockpile of these materials early one, Boat World can quickly build its brand while preventing other startup competitors from capitalizing on this hard work and entrepreneurial effort. This is one of the primary reasons that understanding and utilizing intellectual property rights is an important part of a business startup.