When you register a trade mark, you obtain many benefits in building the brand of your business and ensuring your business is legally protected. A trade mark is a sign that distinguishes the goods and/or services provided by your business from other businesses. It can include a name, slogan, design, image, colour, shape, scent and even a sound. Your trade mark is an important asset to building and maintaining your business. To reap the rewards of such an asset, it is vital that you register a trade mark with IP Australia.
There are many competing businesses in the marketplace, and it may be hard for your business to stand out. Consumers are exposed to many businesses and can struggle to remember businesses and the goods and/or services that they provide. Marketing and branding is a key factor in differentiating your business from others and ensuring success.
A single sign can convey the message behind your business and goods and/or services you provide. Registering the sign associated with your business as a trade mark can significantly aid in marketing the value and reputation of your business. A trade mark provides your business with an identity. It acts as an effective and efficient communication and marketing tool. It can be used to draw consumer attention, allow consumers to easily find you and drive consumer decisions.
You and your business have exclusive rights, after you register a trade mark. It gives you the right to use, license and sell your trade mark within Australia.
Use of a Trade Mark
Once you register a trade mark, no one else in Australia can commercially use your trade mark. 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.
Authorising use to another
You may choose to give permission to another business or person to use your registered trade mark while retaining ownership. You can do this through a license or franchise. As the owner of the trade mark, you usually get payments from the person or business you licensed or franchised your trade mark to, generating a source of income for your business.
Registering a trade mark provides you with the right to sell your trade mark to another person or business. When selling your trade mark, you transfer all of your rights to the person or business you sell it to.
When you register a trade mark, you ensure no other person or business can legally use identical or similar signs as a badge of origin trade mark. If another business is using your trade mark to promote the same or similar goods and/or services, you will be better equipped in protecting your trade mark if it is registered.
As the owner of a registered trade mark, it is your right and responsibility to protect it. You can protect your trade mark by monitoring the marketplace to determine whether someone is using your trade mark without approval. If you find that someone is using your trade mark without your permission, you can take action against them. Having a registered trade mark allows you to take action and enforce your rights against the business or person using your trade mark.
There are many benefits, both legal and non-legal when you register a trade mark. In doing so, you provide your business with a key marketing tool that helps in building brand identity and value. Registering a trade mark also bestows you with legal rights allowing you to authorise others to use your trade mark and allowing you to sell your trade mark. Furthermore, you can prevent competitors from copying and using your trade mark to their advantage. Registering a trade mark, monitoring the marketplace and enforcing your rights may seem overwhelming. Contact one of our IP lawyers for further information about obtaining trade mark registrations.