I've recently come across some horror stories about businesses copying other businesses. If you've built a strong reputation in your industry, you want to protect this very important asset. This inspired this week's Enterprise post.
They say that imitation is the sincerest form of flattery but what happens when another business starts copying your name, products or processes?
This happened to Nicole Kersh, founder of 4Cabling.com.au, a wholesaler, manufacturer and distributor of cables. She founded the business seven years ago and says it is now turning over about $8 million a year. At only 28, she's built the business is a male-dominated industry and says she has developed her reputation in the industry.
Cashing in on your name
"It's something we've worked hard to grow and we're very proud of it," she says. "Like most entrepreneurs, my company's brand is intimately tied to my own personal brand. People know Virgin for Richard Branson, they know Aussie Home Loans for John Symond, Janine Allis for Boost Juice. And in my industry, my customers know me as the young female founder of 4Cabling.
"That's why we stood up and took notice when, a few years ago, a guy started up a competing business, using a company name that made it sound like he was a woman. It seemed a little strange at the time but it wasn't until he started using our trademarked name 4Cabling as a Google AdWord, in what seemed like an obvious attempt to direct traffic to his website, that we began to guess at his motivations. The company appeared to be using our good name and my own hard-fought reputation in order to steal our customers."