India has built a strong industry for entrepreneurs in the last few years. Currently the government is promoting make in India as well as startup India through their ravisinging schemes. This gives hope to the young entrepreneurs to start their own brands and companies. They are two different aspects of the business world. Creating a brand and incorporating a company are the two different aspects of the business world. One who understands the difference between a brand and a company knows how crucial these two are.
What do you Mean by Brand?
Brand can be the logo, name, sign, symbol etc of the company. It is important to protect the brand name. Brand names are mostly protected through trademark registration. Once your brand name is protected nobody else can use the same name or can take the benefit of your brand name. Hope now you understand the difference between a brand and a company. On the basis of the above example we can say that a brand is something by which any company is recognized in the mass of people. Some of the key advantages of brand names are given below:
- Helps the business to grow in the market
- Increases the value of your business in the market among the competitors
- Makes your business different in the market
- Helps in attracting customers
- Increases the profit of the business
- Helps in generating revenue for the business
How to Build a Brand Name?
The process to build a brand name is mentioned below which is also one of the key difference between a brand and a company :
- Understand Your Audience
- Define Your Unique Selling Proposition (USP)
- Create a Memorable Logo
- Craft a Catchy Tagline
- Choose Appropriate Colors
- Establish Brand Voice
- Build a Strong Online Presence
- Provide Consistent Quality
- Engage with Customers
- Collaborate and Partner
- Invest in Packaging
- Deliver Exceptional Customer Service
- Tell Your Brand Story
- Gather and Showcase Reviews
- Adapt and Evolve
What do you Mean by Company?
In easy language a group of individuals who work in a particular direction in order to obtain profit is called a company. Registrar of the companies helps in incorporating companies in India. Some of the advantages of the companies are mentioned below which also helps us to draw a clear line of difference between a brand and a company:
- They enjoys separate legal entity status
- They are transparent and reliable
- They increases credibility of the businesses
- Helps in raising funding
- Investors attract towards such entities
- They can be formed in different forms
Types of Different Companies in India
Some of the different types of companies which one can incorporate in India are given below, before understanding the difference between a brand and a company you must read them:
- One person company, which can be formed by only one director. It is good for those who wants to start their business individually
- Private limited company registration is the second form of the companies which is most preferred among the entrepreneurs
- Public limited companies are good for the big business with big investments
- LLPs which are commonly famous by the name of the Limited Liability Partnership Firms, although they are not governed by the Companies Act they are kind of corporate entities. Their governing law is Limited Liability Partnership Act of 2008
- Companies can be formed in partnership as well
How to Incorporate a Company?
In order to incorporate a company you must follow the procedure given below:
- Select a good name for the company which is not already in use or already taken by somebody
- Take the name approval after visiting the official web portal or official website of the Ministry of Corporate Affairs
- For the name approval one needs to submit the the Form Spice+Part A
- Once the name of the company is approved file the second form that is known as Spice+ Part B
- Once you will file the application registrar of the companies will do verification of your application
- After the successful verification applicant quill receive the Certificate of Incorporation
Key Difference Between a Brand and A Company
Some of the key difference between a brand and a company are discussed or mentioned below:
| Brand | Company |
| Brands are the names, logs, signs, symbols which helps in recognition of the company | An organization or legally incorporated business entity which is engaged in particular business is called a company |
| Brands are protected through trademark registration in most of the instances | Company names are also protected by the company law |
| As such there is no governing law but when it comes to its protection iot is mostly governed by the Trademark Act of 1999 | Companies are governed by the company law which is knowns as Companies Act of 2013 |
| Brands represents companies or organizations | Companies does not represent brands |
| The reason behinds brand building is the perception of the customers | Companies are formed by the company owners |
| To build a brand a brand there is no as such minimum or maximum requirement of the people | To incorporate a company minimum or maximum requirements of people are there |
| They helps in attracting customers | Registered companies helps in attracting investors |
| Brand names are popular among the general public | Sometimes companies names are not known to the people as they are famous by their brand names |
| Helps in making money | Helps the business to grow by making it reliable, credible, trustworthy and transparent |
| Its very hard to built a brand | Incorporation of a company is comparatively easy |
Conclusion
In the present writeup we have discussed the key difference between a brand and a company, so that there will be no more confusion regarding the same. In the business world these two terms are used interchangeably which is completely wrong as they are two separate terms. They are recognized in different ways and their roles are also different. They are useful for the business, but in different ways. Hope after reading the blog which is presented here now it must be clear how brand and company are different and what are the key difference between a brand and a company. Just in case if you are having any doubt regarding the same, feel free to contact us to know more about the same and how they are useful for your business.
