Andy Murray has succeeded in registering his name as a trade mark.
This is a growing trend in celebrities, particularly sports personalities, and his name joins the trade marks of many other stars including Catherine Zeta-Jones, Robbie Williams and Jamie Oliver. The incentives for doing so include countless legal and monetary advantages. This is not to say that this process is easy- Sir Alex Ferguson is an example of someone who faced difficulties when initially attempting to register his name as a trade mark.
From a business point of view, registering your name as a trade mark can be very lucrative with Forbes magazine estimating fellow sportsman Roger FedererÂs trade mark is worth Â£36m and valuing Tiger WoodsÂ brand at Â£55m. It is universally agreed that a registered trade mark will add substantial value to your brand, and this registration should always take place as soon as possible.Â Murray has included a wide range of goods and service in his trade mark enabling him to release all sorts of Andy Murray Merchandise, ranging from clothing to computer games to sports coaching,Â if he so wishes to in the future. Commercially, this offers Andy Murray the flexibility to licence a wide range of products with his trade mark and should ideally prevent unauthorised merchandise entering the market.
AndyÂs trade mark will also boost his sponsorship income, preventing non-approved companies from affiliating his name with goods and services and will allow Murray to have more freedom in choosing the sponsor that he wants to work with.
Legally, owning a registered trade mark offers a substantial framework of protection to ensure that others do not capitalise on the success of your sporting career. A trade mark can be registered in any number of classes providing that there are none already registered in those classes that are identical or too similar. Registering a trade mark is the most effective way of protecting your brand your intellectual property rights. Upon registration of your trade mark you will be able to use the Registered trade mark symbol: Â® which will inform the public that you are the bona-fide brand.
Protecting your Intellectual property is essential to the growth of a business and your brand, and will be the most valuable assets for a company. Guaranteeing legal protection of these assets, as Andy has done, is an important investment. It is imperative to seek appropriate legal advice before embarking on this process to ensure that your application is properly drafted, meets the legal criteria and is suitably worded to give you the protection you need.
This article was written by Saowanee Kristin who works part-time at Lawdit.