Trademarks are a great way to legally enforce your unique business name. A business name is a name that you or your entity uses for trading purposes. This can be your individual name, a registered business name, or the company name you register with ASIC. A registered business name does not give you an exclusive right to use it.
What is a trademark?
A trademark is a form of differentiating goods and services from other businesses. This can be a letter, word, name, signature, numeral, device, brand, heading, label, ticket, an aspect of packaging, shape, colour, sound or scent registered under the Trade Marks Act 1995. A trademark allows you to have the sole right to use, licence, or sell the trademark in Australia. If you have a trademark registered overseas, it needs to be shown from a country near Australia.
Trademarking a business name is a long and expensive process. This is because it lasts for 10 years from the date it is filed. The renewal process can then begin 12 to 6 months before expiry. If that process is completed after the expiry date, you will need to pay extra.
Why trademark your business name?
Here are a few advantages of registering your business name as a trademark:
No one else will be able to use your business name in Australia if you register it as a trademark. If someone uses it without permission, you can send a Cease and Desist (Trademark Infringement) letter. This allows you to take legal action under the Competition and Consumer Act 2010 if they have not complied with that letter. Only under certain circumstances can an unregistered trademark be protected in common law and through legislation.
It will help grow your business
A trademark is a great marketing tool. Any features you consider to be related to your business will be registered as a trademark such as goods or services. This includes branding of an exclusive product or service produced by you on the market. This, in turn, will provide you with differentiation in the market which is beneficial for raising awareness of your brand. As your business grows the value of your trademark increases.
The process to trademark your business name can be quite difficult and expensive. If you do decide to trademark your business name, you can receive a fixed-fee quote.
Have more questions? Contact a LawPath consultant on 1800 529 728 to learn more about customising legal documents and obtaining a fixed-fee quote from Australia’s largest legal marketplace.