Before choosing your brand: We have previously discussed important considerations when choosing the name of your business. Before you decide upon your brand (which may consist of a letter, word, name, number, logo, aspect of packaging, shape, colour, sound or scent) and launch it (including before you register your domain name) a trade mark availability search should be conducted by a professional to determine whether there are any existing registered or unregistered rights which may exist in similar brands.Benefits of trade mark registration: The mere registration of your company name or business name with the Australian Securities and Investments Commission (ASIC) does not protect your brand identity, or provide registered trade mark rights in your brand. Registration with ASIC is a legal obligation. However, registration as a trade mark with the Australian Trade Marks Office can provide your business with:
an exclusive statutory monopoly to use your registered brand identity in respect of the goods and/or services for which it is registered in Australia;
an easy way to prevent cybersquatting (the registration of a domain name which incorporates your brand by others);
much easier and cheaper enforcement of your rights in your brand if someone else infringes your rights, for example, by using a brand which is either substantially identical or deceptively similar to your brand in respect of the same or similar goods and/or services; and
a registered “asset” which can be licensed, assigned, and monetised.
Only registered trade marks can apply the ® symbol. This puts others on notice that your brand is registered, and that you are likely to prosecute infringement.Costs: Your brand is your identity. It is valuable property to which your goodwill and reputation are attached. People who infringe your brand may derive benefits from your hard work or diminish your brand’s value through their actions (e.g. by selling inferior goods or services). Registration as a trade mark is typically a fairly inexpensive exercise if your brand does not currently infringe the rights of others (please refer to our earlier article here for further information). Goods and services are divided into “classes”. It is possible to obtain protection with IP Australia in one class for $330. This is a drop in the ocean when compared to the potential costs to your business of non-registration. Registration lasts for 10 years and is renewable.We provide trade mark registration advice and assistance at cost effective fixed fee rates.Contact our Sydney business lawyers for assistance in relation to the above. Our commercial lawyers, business lawyers, and disputes lawyers provide expertise in corporate and commercial advisory services as well as litigation and dispute resolution. Take a look also at a sample selection of our more basic fixed fee legal services.HEATHFIELD GROSVENORLevel 21, 133 Castlereagh StreetSydney NSW 2000AustraliaT: +61 2 8005 7388F: +61 2 8310 9779E: firstname.lastname@example.orgThe information provided in this article is provided by way of general information only. It does not constitute legal advice, and should not be relied upon as such. Specific independent legal advice should be obtained before deciding to act, or not to act, upon the views expressed or information contained in this article.Copyright of Heathfield Grosvenor 2017. All rights reserved.