5 Benefits of Registering a Trademark
Want to protect your brand? Learn about the major benefits of registering a trademark.
The marketing of your products or services is one of the most important aspects of your business, but how do you protect what makes your brand unique? Trademarks are an effective way to protect and promote the reputation of your brand. A registered trademark is an asset to your business, because without it, your brand is vulnerable to misuse or worse, registration by another.
To protect your brand and reap the benefits of a registered trademark, LawPath recommends getting in touch with a trademark attorney.
For more information on trademark registration, you can read our guide on ‘How to register a trademark’.
Here are 5 benefits of registering a trademark
Economically beneficial to your business
As a business owner you want to stand out from your competitors. If you are intending to commercially market your product or services you will need a trademark. A trademark protects the unique aspects of your business, such as your brand name and logo, and as a result increases the value of your brand. Protecting what makes your brand unique can give you that competitive edge in a crowded market.
Registration protects your brand nation-wide
Any feature or combination of features that distinguishes your products or services from your competitors can be registered as a trademark. With a registered trademark, these features will be protected throughout Australia. Having a registered trademark in Australia can also be beneficial for any future international applications. If you intend to expand your brand internationally, as a trademark owner, these applications will be simpler and take less time.
The exclusive right to use, sell and licence your trademark
As a trademark owner you have a range of exclusive rights over your trademark. The control of your brand and how it is to be used is valued by all businesses. Through registration, you have the right to commercially use your trademark. This is valuable when executing marketing strategies to increase brand recognition and grow your business. You also have the right to capitalise on the positive reputation of your products and services by selling your trademark to others.
When commercially marketing and distributing your products or services, a range of third parties such as manufacturers, distributors and franchisees will handle your brand. The exclusive right to license your trademark is helpful when dealing with these third parties and ensures that your brand is always protected.
Protection from unauthorised use
Only a trademark can provide proprietary protection for your brand and prevent any unauthorised use by others in Australia. Competitors and other businesses may take advantage of your reputation and use your brand or elements of your logo, brand design and image for their own products. This can confuse and mislead your customers into thinking that the products or services they are purchasing are your own.
Without a registered trademark, protecting your brand from this unauthorised use can be an expensive and ineffective use of your resources. As a trademark owner you have the right to initiate proceedings against competitors and other businesses that are infringing your trademark.
Prevent competitors from registering a similar trademark
The earlier you register your trademark, the better protected you will be. Under the Trade Marks Act 1995, a competitor or any other business, cannot register any trademark that is identical or similar to a registered trademark. Without registration your unique brand or elements of it may be registered by another, or worse, challenged by a registered owner with a similar trademark.
Applying for a trademark can be a time-consuming and complicated process. At LawPath we make registering a trademark quick and easy, offering fixed fee quotes with a fast turn around.
LawPath has access to highly qualified IP attorneys that can help with your trademark. Contact a LawPath consultant on 1800LAWPATH to learn more about customising legal documents, obtaining a fixed-fee quote from our network of 600+ expert lawyers or any other legal needs.
Zac is a consultant at Lawpath, Australia’s largest and fastest growing online legal platform. Since joining Lawpath, Zac has assisted 1000s of startups and small business’s with their legal needs.