Top Ten Reasons for Registering Your Trademark
Registering trademarks protect business identity, creates intangible asset, and confers exclusive rights to use and license globally.
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1. A registered trademark is a valuable asset for your business.
- The value of intellectual property such as trademarks often equals or even surpasses the value of physical assets for a company.
2. Trademark registration, brand recognition and goodwill are all factors which can work towards the purchasing power your business has.
- Intangible assets are essential to the development, marketing and sale of a company’s products and services, regardless of size.
- Your trademark is usually so closely attached to the goodwill of the business, that it is, in reality, one of the most valuable assets that your business has. By registering your trademark you are creating it as a separate intangible asset that can be reflected in the financials of the company, which is helpful if you are looking to sell or get finance.
3. Trademarks are the easiest way to register your business’ identity.
- If you don’t register your mark you may be prevented from registering it down the track, leaving you with a business or brand name that cannot be protected.
4. Trademarks distinguish your services or products from others in the marketplace.
- Having a registered trade mark is your most valuable marketing tool as it gives you the exclusive right in Australia to establish a brand identity and legally stop imitators.
5. Registering your trademark is an inexpensive way of protecting you from others from using your business identity which may damage your reputation.
- A trademark registration is valid for 10 years and can be renewed every 10 years thereafter for a nominal fee.
6. The use of an unregistered trademark often leads to a lengthy, expensive legal dispute over who has the right to use it.
- Registering your trademark creates legal proof of your ownership of the mark and your exclusive right to use it in connection with the goods and/or services listed in the registration.
7. Registering your trade mark may give the Australian Customs Service a notice objecting to the importation of goods that infringe your registered trademark.
- This confers an extra layer of protection which is only available for registered trademarks.
8. Trademarks are property and can be licensed or sold like any other property.
- Once your trademark is registered, you have several options as to how you can now deal with your mark. For example, you can licence it to others and receive licence fees/royalties or hold it separately in an asset holding entity.
9. Registration of your trademark gives you the exclusive right to use the mark throughout Australia. Once a trademark is registered, it cannot be copied or used by anyone else.
- Only a trademark can give you protection. Registration of a business name, company name or domain name does not in itself give you any exclusive rights to use it.
- When you have a trademark registration, it is far easier and cheaper to stop other people using that name. If your mark is not registered, you first have to prove your rights to use that name. This can be a difficult and expensive process.
10. An international trademark can protect you globally.
- Many countries are members of international treaties to protect intangibles such as trademarks and if you use international organizations such as WIPO, your mark can be protected globally.
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