Trade marks are a valuable business asset. Your trade marks and brands are what differentiate your business from your competitors. Upon seeing your trade marks, consumers link them to your business. Hence, your trade mark is synonymous with your business’ reputation, goodwill and image. If your business has spent a large amount of time and money in advertising and promoting its brand, you should secure a registered trade mark to protect your brand and investment.
A registered trade mark provides your business with the exclusive right to use that mark for the goods and services for which it is registered. It also has the following benefits:
- Registering a trade mark puts third parties on notice of your business’s rights.
- Most countries operate a first to file system and registration of the trade mark acts as proof of those rights
- Although rights in a unregistered brand can be accrued through use of the mark, such use must be significant and it is much more difficult and costly to enforce
- Registering a trade mark is more likely to deter third parties from using your mark or something similar
- A registered trade mark is an asset which can be sold or licensed and which can be listed in the balance sheet as a business asset