BACK TO BASICS: The benefits of a registered Trade Mark
The benefits of a registered Trade Mark
A trade mark is a valuable business asset and marketing tool as it provides a distinguishing element that will allow your brand to stand out against your competitors. A trade mark consists of any sign that distinguishes your products or services from your competitors, including a word, logo, slogan, etc.
A well-known trade mark will allow people to successfully identify your business, and as such, the value of your trade mark generally increases with the success of your business.
Whilst it is not mandatory to register your trade mark with IP Australia, having a registered trade mark in place provides multiple benefits to your business. A registered trade mark provides your brand with the exclusive rights to use or licence the trade marks in Australia. A registered trade mark also provides a business with a powerful and effective tool to stop a third-party from using a similar mark.
Whilst both unregistered and registered trade marks are protected against infringements by a competitor, it may become quite costly and time consuming to protect an unregistered trade mark. Given this, we highly recommend that you always register your trade mark with IP Australia. It is important when applying for a trade mark to make sure that the application is filed in the correct name and covers the relevant goods and services. Simple mistakes when lodging the application may limit the effectiveness of the registration to stop a third-party infringer.
At Baybridge Lawyers we have vast experience in assisting and advising our clients in respect to their trade marks and trade mark registration. If you are interested in finding out the ways in which a registered trade mark can benefit your brand or require assistance with the preparation and lodgement of a trade mark application, please contact the expert team at Baybridge Lawyers and we will be more than happy to work with you to further develop your brand.
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