Growing your business requires commitment, investment, marketing, and plenty of hard work. But behind the scenes, there’s the issue of trademark registration – something new business owners don’t also consider to be a priority. However, looking into this simple but essential legal step with benefit your brand, product, or service in multiple ways.
Most people are aware that the registration gives you the use of the ® symbol. It indicates immediately that you are a bona fide business with a trademarked name, and any copycats will be dealt with a legal blow. But what are the other benefits?
Let’s take a look at how a trademark registration helps your business:
You protect your brand from copycats
You’ve worked hard to build up your brand’s solid reputation and the goodwill you have with customers. The last thing you want is a competitor to copy your ideas, branding, and image to ride on the success you’ve already achieved. Or, perhaps you have brought a truly innovative concept or product to the market that is a gamechanger – you don’t want others duplicating the service and passing it off as their own. Having a trademark registration will deter copycats because they know that if their infringement is picked up, all you have to do is send them a ‘cease and desist’ letter. If a competitor searches the register and your name is already registered, they know they need to come up with an alternative name for themselves to stay on the right side of the law.
You get nationwide trademark registration
When you register your trademark in Australia, you are given exclusive rights to use the name nationwide. But what if you are thinking bigger? Suppose you plan to broaden your trading internationally. In that case, it will count in your favour to have registered your trademark in Australia if you want to register your trademark in other territories too. It makes it easier for you to go global.
You gain control of your brand with a TM registration
Your brand represents the health, reputation, and success of your business. You want to protect this valuable asset. If you plan on franchising or exploring a licenced reseller aspect, having a trademark registration will put you in control of how, when, and why your trademarked name is displayed.
If you are interested in looking into new revenue streams, you’ll also gain the right to licence your brand. If you want to sell your business at some stage, having existing trademark registrations will improve the company’s value because buyers will have confidence that your USP is protected.
You’ll get Google in your side – and customs
Your website and online marketing efforts are vital to growing a business – they are one way that new customers can find and contact you. Improving your business’s rankings on Google and other search engines is a constant battle. Still, if you have a trademark-registered name, you are immediately at an advantage, because Google restricts trademarked words. Once you’re on the database, you can also contact the Australian Customs Service and object to importing any items that infringe your trademark.
You show customers you are the real deal
Suppose a customer is looking for a service, and they come across a brand without a quality website or a contractor that uses a generic Gmail account to conduct business. In that case, they’re going to have instant concerns about how seriously they should take the offering. In the same way, when you register your trademark, you show that your business isn’t a fly-by-night offering. You’re in it for the long haul and are invested in the future. In essence, it puts confidence in potential customers that you’ll deliver a quality service.
You know your brand has a future
Before you throw money and time into starting a business, you want to be confident that there isn’t a similar product or brand that already exists that is similar. When you register a trademark, all potential issues with infringement will be flagged. Pass the registration process, and you know that down the line, you are unlikely to be served with a cease and desist letter by a competitor claiming you are infringing their rights. Save yourself the trouble of having to rebrand.
As you can see, registering a trademark in Australia is crucial to protect your intellectual property assets and also to secure your rights in the country. It can be a complicated process, and you want to ensure you cover all eventualities, so it’s advisable to hire a trademark professional to assist you. It’s just a small, but necessary investment you need to make to ensure you grow your business or brand from strength to strength, protect its reputation, and increase its value.
For more information around Australian trademarks, registration, and trademark law visit mmwtrademarks.com.au
