Bidding on your name might be an even bigger waste of money than bidding on a competitor's name, especially for established brands. eBay's experience with this came up on a recent episode of Freakonomics - https://freakonomics.com/podcast/advertising-part-2/
Whenever I search for a brand by name and an ad for them pops up (in the rare case that I’m browsing without an ad blocker), I try to click on the non ad version right below it just to save them a bit of money.