Can you think of one financial services brand that you truly love?
In the finance industry, branding often takes a backseat to reputation, trust, and expertise. With the exception of car insurance, unlike most consumer-facing industries where catchy slogans, logos, and memorable mascots can make a huge impact, financial institutions tend to rely more on their credibility andtrack record. For example, names like Goldman Sachs or JPMorgan may not need a flashy brand to succeed; their reputation does the heavy lifting.
But here’s the catch: branding still matters, even in finance. The core value of a financial firm is in its services and trust, but without a trademark, someone else can hijack your name, logo, or business identity.
Why Do Financial Firms Trademark if Branding Isn’t the Focus?
Even though branding isn’t as critical in finance as it is in other sectors, trademarks are essential to protect a firm’s identity. As we’ve seen with brands like Marcus by Goldman Sachs or Chase by JPMorgan, these financial giants have chosen to launch services under less traditional names, but they still trademark them. Why? Because without trademark protection, someone else could register these names and claim ownership.
Trademarks help these firms protect unique offerings or new services under different names, ensuring their business identity remains under their control. Without the legal protection a trademark provides, they risk losing the exclusivity of their names, even if the core brand identity doesn’t rely heavily on them.
The Threat of Trademark Trolls
Here’s where the real risk comes in: trademark trolls. Imagine this—your firm has been using a name or logo for years, only to find that someone else has trademarked it first. You could face costly legal battles or be forced to rebrand entirely. It’s like living in your grandmother’s house for years, only to find out someone else put a charge on the property and you’re being evicted. That’s the danger of not trademarking—without it, you don’t truly own your brand.
The trolls don’t care about your reputation—they just want to exploit your name for financial gain. And if you don’t protect your identity, they can legally claim it as theirs.
The Bottom Line
While branding in finance may not rely as heavily on flashy names or logos, trademarks are still a vital tool to protect a firm’s identity and future. Whether you’re a wealth management firm or a growing fintech company, securing a trademark ensures ownership and shields your business from potential threats. Even in finance, your brand identity needs legal protection.
