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What are the benefits of securing trademark
registration?
So you have developed a great name for your
business or product? A great logo to represent your company?
How will registering the trademark help you and your
business?
BE IN CONTROL OF YOUR NAME
♦By registering a trademark, not only are you
given exclusive ownership rights, you also have the right to
control the use of your name. If someone else begins using it, you
have the right to tell them to stop. If someone else wants to use
your name, you have the right to license the use in a manner that
suits you.
MAKE MORE MONEY
♦Following on from above, if you choose to
license the use of your name to someone else, you can charge a fee.
For example, if you chose to franchise your business you could
charge additional 'royalties' for the use of the name and/or
logo. This fee is normally negotiated between the two parties.
So, you could be generating further income while someone else does
the work.
ADD VALUE TO YOUR BUSINESS
♦A trademark is a sellable asset, just as real
estate property is. By registering your name, corporate logo,
slogan etc as a trademark you add value to your business straight
away. So, when you retire, if you choose to sell your business (or
even before hand), if the trademark is registered you will most
likely be able to sell for a higher
price.
BE PROFESSIONAL
♦Many people realise that the ® represents a
registered trademark. By being able to use this symbol, others are
deterred from 'ripping you off', and view your business as being
professional as it is visually obvious you have followed the
correct processes and you are serious about your business.
OWN YOUR NAME EXCLUSIVELY
♦Once your trademark is registered, you are
given exclusive ownership of that name, logo or slogan etc. A
business or company name registration DOES NOT provide you
with exclusivity. It allows you to trade with the name. Trademark
registration is the registration required to tell other people to
'cease and desist' use of your
name.
OWN IT FOR EVER
♦Once registered, you can own your trademark
indefinitely. It will not expire unless you fail to meet the
renewal obligations every ten years. However, remember you must use
your trademark. If you do not use it in the first 3 years, another
party may request it be deregistered for
non-use.
STOP PEOPLE FROM BRINGING INFRINGING PRODUCTS INTO THE COUNTRY
♦By owning a trademark, you may make an
application to customs so that they can keep an eye out for people
importing products under the same or even a similar name, presuming
their product is related to yours. You cannot stop persons in an
unrelated industry.
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