Registering your brand name as a trade mark is a fundamental aspect that should never be overlooked when starting up a business.
While the benefits of having a trade mark are endless, here are the top 4 advantages we think are worth noting:
Having a registered trade mark could heighten your intellectual property value considerably!
Obtaining successful trade mark registration will add value to your business as registered trade marks can be purchased, sold or even franchised. Therefore, as your brand value increases, your trade mark value will increase too. It is not unusual for potential investors to have an interest in your intellectual property and as such, having a trade mark could positively impact your business value when selling, franchising or even merging your business.
Getting there first
Quite often, we come across businesses who have been trading for years who get cut off by a newer business who registers their brand name first. This could undoubtedly cause existing businesses unnecessary stress, unwanted disputes and potential legal costs down the line. With so many highly similar brand names already out there, getting your mark registered before someone else gets there first is of upmost importance – remember, the early bird gets the worm!
Possibly one of the most important advantages when it comes to registering your brand as a trade mark is having asset protection. Once successfully registered, your trade mark will give you protection over your brand name and/or logo which will in a nutshell prevent any third parties from using your mark to copy or pass off as their own (aka trade mark infringement). Your trade mark will be the registered right that you can rely upon to combat any infringers in question as you will be in a position to take legal action against anyone who uses your brand without your permission.
Have a mark that lasts a life time
Your registered trade mark can last a life time as long as it is renewed every 10 years. Renewal will cost less than the initial registration and only needs to be done once a decade. This means that once registered, you will have a peace of mind that your mark will have protection for a minimum of 10 years and a maximum of a lifetime.
While registering a trade mark is important for all businesses, it is especially crucial for smaller or start up businesses to be aware of the array of advantages that come with obtaining trade mark protection.
If you have any questions relating to trade marks or wish to get your brand registered, contact Lawdit Solicitors today where we would be happy to assist you.