A business idea is probably the biggest and most important asset a company has. However, despite this fact, many businesses still disregard taking action towards their intellectual property. Due to this, some companies fail to prosper or worse, lose in the competition.
Among the most common intellectual properties is the trademark. Trademarks are any symbols, logos, or words that are legally registered or established by use to represent a particular company or business.
For your trademark registration, the following are some tips for you to get started:
It is nothing but crucial to protect your brand from the very first day. Too many businesses in today’s generation disregard this action until it’s too late and when someone else has already registered the company or product name they have been using. Telling authority that you’re the real owner of a specific trademark won’t just work. They then have to rebrand and start trading under a new name, which can be a very costly process.
Don’t merely register your product name and company through company houses. The fact is it doesn’t give you any intellectual property protection, nor owning the website address. You need to register your name and logo with the Intellectual Property Office. Say you’re eyeing to put up a business in the Philippines, then you can reach to a trademark attorney in the Philippines to whom you can address your needs for a trademark registration.
Recognize your brand’s value
Even supposing your products and services aren’t internationally known yet, the brand name it is registered under as a trademark might become especially valuable for a competitor who eyes to use and take advantage of it.
Do your searches
Be sure that there is no similar name, symbol or phrase already trademarked or in widespread use. You can do this by searching the Intellectual Property Office’s (IPO) database.
Though it can undeniably be time-consuming, it is vital to ensure that you are not negligently taking someone else’s trademark.
Don’t be another business who will be forced to change its signage after getting complains by another entity.
System of Classes
Two businesses may own the same trademark as long as they are registered under different products. The trademark registries operate a system of classes to identify what products are similar.
Use a designer with trademark knowledge
Brand naming is not a random activity – you need to make sure that you are aware of the basics of trademark law and also use designers who understand trademark registration to save yourself hundreds or maybe thousands of pounds in the long run.
Make up a Name
One of the simplest ways to carry out a successful application of trademark is through making up a name. Don’t be too literal or descriptive with your company or product name. Designer Leather Bags won’t be accepted, nor will misspell words such as Letha Bagz.
Make sure that your brand values will not be for your competitor’s advantage.
An example of this is the current dispute between Interflora and Mark and Spencer (M&S). M&S has been paying Google to have its flower business promoted every time a consumer searches for ‘Interflora.’ Interflora is now taking this ‘piggy-backing’ action to a European court.
If you have an appropriate registration for your business’ name, you can file a complaint with Google, and this should stop companies using your business name in their advert. Unfortunately, they are still able to bid on your company name as a keyword.
A registered trademark usually lasts for ten years before renewal fees are due. Once it is registered, you can no longer increase the scope. With that, if you currently only sell clothing but desire to expand your business by including say shoes and makeups, then it’s worth applying for that class. Otherwise, you have to start yet again and fund for a second application.
Secure your Trademark
In a snap, you may face destruction over your brand. Make sure you have it protected enough with all the right trademarks in place.