When you see a big yellow “M” do you immediately think of McDonalds? Or when you see a logo on a phone with a bitten apple, do you immediately think it is an iPhone? This is the power of brand awareness. Your brand, your logo or any other unique identifier is a powerful tool that differentiates your business from your competitors.
We explore the benefits and registration process of trade marks.
What is a trade mark?
A trade mark is a form of intellectual property and can be a letter, number, word, phrase, logo, image, sound, movement, shape or scent. The mark is used to differentiate your goods and services from your competitors. Registering a trade mark with IP Australia is one of the only ways to ensure you have an exclusive right to use your unique identifier and will give you greater legal protection.
It is important to note that a trade mark should not be confused with a business name. Having a business name registered with the Australian Securities and Investment Commission (ASIC) or an Australian Business Number (ABN) does not give you the legal right to be the sole exclusive user of that name – meaning someone, who is selling the same goods or services, can trade mark your business name, creating an enforceable legal right to be exclusive user of that trade mark and stop you from using it.
The benefits of trade marks
1. Protection
- Exclusive right to use the trade mark anywhere in Australia – a powerful tool to stop competitors from copying your trade mark.
- Legal right to pursue another business using/copying your trade mark for the same/similar goods and services.
2. Business Value
- Adds value to sale price – when you do approach the stage of selling your business, a registered trade mark can add value to the sale price of your business.
- Higher chance of seeking investment – investors are more likely to invest in a business that has an IP strategy in place with registered trade marks, protecting the intangible assets of the business.
3. Commercial Value
- Licencing to others – a registered trade mark provides you with the ability to commercialise and authorise others to use it, creating another revenue stream and making it a valuable asset to a business.
- Brand awareness and customer recognition – whether you have been in business for many years or just starting up, marketing and creating that brand awareness can be expensive, and the best way to protect all that effort is to trade mark your mark.
Trade mark registration process
All trade marks are registered with IP Australia and this protects all of Australia. The registration is effective for 10 years and can be renewed for a further 10-year period, provided the renewal fees are paid.
The process of registering can be straightforward; but it is important that professional support is engaged to ensure an analysis is done of your proposed trade mark. A comprehensive search will provide you with confidence that you are protecting the right intellectual property and are not infringing on anyone else’s rights.
Other Resources
Getting started
The Commercial Law team at CCIWA can assist with the following:
- Trade mark Report – a complete report on your proposed trade mark setting out any potential issues, identifying any conflicts and listing the goods and services in which your trade mark should be registered.
- Registration – registering your trade mark with IP Australia.
- Respond to correspondence from IP Australia or third-party notices of opposition to the registration of your trade mark.
- Enforcement of a trade mark - if you think someone might be using your registered trade mark without your permission.
- Develop and implement strategies for the identification and protection of all intellectual property in your business.
- Review existing or new commercial/employment contracts to ensure your intellectual property is sufficiently protected.
If you are interested in a trade mark report or want to discuss the protection of your intellectual property further, please contact the CCIWA Commercial Law team at [email protected] or call (08) 9365 7560.
