It is still staggering to us how frequently we meet Business Owners who do not deem it important to register their brand as a Trademark. You spend all day building your brand, creating a reputation, managing its presence in the market. Why not protect this hard work? And when we share this list, they can not hide their surprise. So here is a quick download of all the reasons why you should.
Just because you own your business name, a cool logo and have a domain name does not mean that you are protected from other businesses who want to promote themselves the same way. Registering you trademark is the fastest and most cost-effective way to gain legal exclusivity for the use of Your Name and Your Logo.
A brand has more financial value when it is is a Trademark. Yes, goodwill sits in your Balance Sheet but a Trademark is also accounted for as an Asset. Woohoo! Trademarks can help you value-up your business if you intend to sell it.
Trademark registration affords you that extra level of protection over your brand and increases your rights against those who infringe on on it.
Only a Trademark can be infringed upon and you are protected by the Trademarks Act 1995. When another person uses your trademark they are passing off and it may also be misleading and deceptive conduct under the Competition and Consumer Act 2010. If you don’t have trademark registration then your only protection is Consumer Law.
The Trademarks registry is published online for anyone to view so it becomes difficult for an infringer to deny they had any knowledge of your mark.
Once you have a registered mark, helps to make it more difficult for future registration of confusing or conflicting market. You can oppose the registration of another mark which you feel may be confusingly similar to your registered mark.
If you do find a person using your mark, then can start the process with a “cease and desist” letter. If this needs to escalate, the process to take a person to court under the Trademarks Act 1995 is less expensive than for owners of unregistered trademarks as you need to prove reputation. This can be time consuming and expensive under “common law” rights.
Registration is for ten years then is renewable.
Your trademark has a defined territory, example Australia, so you can trade confidently and continue to grow your brand’s recognition in its core product or service offering.
You can control the use of your brand and trademark through licensing.
Protect yourself from infringement claims. Using your registered trademarks gives you a defense should another person try and impose an infringement claim on you.
Creating a brand is a really important element to your business value arsenal. Take heed of this list and register your mark with a Trademarks Attorney today.
Untapped Agency offers Trademarks Attorney services and is a Licensing Agent for Brand Owners, Licensees, Manufacturers and Retailers. We extend iconic brands, copyright, music, designs and trademarks into innovative, new consumer products, services and promotions.