Now is an opportune time for you to enhance your reputation in the market by way of a registered trade mark. Trade marks are one of the most valuable assets of your business. As your business continues to grow, your trade mark gains value.
What is a Trade Mark?
A registered trade mark is used to distinguish the goods or services of one trader from the goods or services of another trader.
A registered trade mark can be word, logo, shape, colour, sound or scent.
A registered trade mark provides you with exclusive rights to use, license and sell the mark. This means that no one else in Australia can use your trade mark in relation to the goods and services for which it is registered without your permission.
Once registered, you may use your trade mark indefinitely provided that you renew your trade mark every ten years. If you do not use your trade mark for a consecutive period of three years, you may lose your associated trade mark rights.
Five Reasons to Register a Trade Mark
A registered trade mark is a cost-effective way to ensure exclusive ownership of your brand and to protect the reputation of your brand.
The registration of a business name, company name or domain name do not give you any exclusive ownership or proprietary rights. Only a registered trade mark provides that kind of protection.
A registered trade mark has five main advantages as follows:
- It is an asset which can be valued on your businesses’ balance sheet. A registered trade mark is more valuable to a potential investor or purchaser of your business than an unregistered trade mark. This is because a registered trade mark can be easily assigned to a purchaser, who will then have the benefits of all accrued rights in the trade mark.
- National trade mark registration. A registered trade mark owner is not required to establish a business reputation throughout Australia when it pursues an infringer for trade mark infringement. Whereas unregistered trade mark owners must prove business reputation in those parts of Australia where the infringing conduct has occurred.
- Generally speaking, unregistered trade mark infringement claims are more risky, complex and costly than registered trade mark infringement claims.
- A registered trade mark owner is protected from claims that their registered trade mark infringes the trade mark of others, provided the registered owner is using their registered trade mark in Australia.
- A registered trade mark allows the trade mark owner the right to object to the importation of counterfeit products which may bear a similar trade mark or badge of origin, thereby enhancing the reputation of any products sold by your business.
Key Takeaway
The benefits of a registered trade mark are numerous as set out above, and relate to the fact that a registered trade mark provides strong brand protection. The sooner you engage us to file your trade mark application, the sooner so you can take advantage of these benefits.
To speak to a trade mark specialist call Trade Mark Direct today on 1300 002 210 or email us at hello@trademarkdirect.com.au.
Key words: trade mark, brand protection, intellectual property