WHY SHOULD MY BUSINESS REGISTER A TRADEMARK?
Micro and Small businesses often overlook protecting their intellectual property so we asked Intellectual Property expert Jacqui Pryor at Complete IP Pty Limited (www.completeip.com.au), “What is a Trademark and why should I register one?”
A Trademark is a badge of origin. It’s the sign that you use in relation to goods or services that identifies those goods or services as yours and not those of your competitors or other traders. A Trademark can be a business name, a logo, slogan or other aspect of branding that is used in this manner. Here are a few reasons why you should register your trademarks;
Micro and Small businesses often overlook protecting their intellectual property so we asked Intellectual Property expert Jacqui Pryor at Complete IP Pty Limited (www.completeip.com.au), “What is a Trademark and why should I register one?”
A Trademark is a badge of origin. It’s the sign that you use in relation to goods or services that identifies those goods or services as yours and not those of your competitors or other traders. A Trademark can be a business name, a logo, slogan or other aspect of branding that is used in this manner. Here are a few reasons why you should register your trademarks;
TRADE FOR LONGER
Studies show that for each Trademark a business registers it survives on average 2.2 years longer than business’ that don’t register their trademarks!
THE RIGHT TO USE AND CONTROL THE USE OF YOUR NAME
Trademark registration gives you with the right to use the Trademark; so no-one else can tell you to stop using it. Registration also allows you to authorise use of your trademark by other people (eg: licensing). Without Trademark registration you may not necessarily have the right to use your own name.
VALUE ADDED TO YOUR BUSINESS
A Trademark is a saleable asset, just like real estate. Trademark registration therefore increases the value of your business.
USING THE “R” SYMBOL – You cannot use the ‘R’ symbol unless your Trademark is registered. Displaying the R symbol deters others from copying and shows the marketplace you are serious about your business.
(TIP: As long as your name or logo is not infringing an existing Trademark you can use the TM symbol. The use of the TM symbol does not require a formal application or registration.
STOP IMPORTS WHICH INFRINGE YOUR TRADEMARK
Trademark owners may apply to Customs to have imported goods bearing infringing brands seized before they enter the Australian marketplace.
AVOIDING ACTION AND COSTS
It can be costly to defend yourself against infringement action if someone else registers a similar Trademark to the one you use in the marketplace and then tells you to cease your use. If you don’t have a registered Trademark, it is far more costly to take action against someone using the same name or logo compared to have not having registered the Trademark at all.
Thank Jacqui, that’s fantastic advice!
Jacqui Pryor, Complete IP Pty Limited, www.completeip.com.au
