Trademark Registration – Why They Are Needed In Business

Trademark Registration – Why They Are Needed In Business

To fully appreciate the importance of a trademark or trademark in a commercial context, you must first understand what the definition of a trademark is. This is a fairly broad category, including almost anything that can be represented visually, be it a word or phrase, symbol, design, or other type of identifiable sign. Whatever way your company chooses to express itself, registration of this mark is the only way you can be sure that its use will not be regulated by a competing company.

What Do I Get from Registering a Trademark?

First, brand identity is what allows companies to market themselves to consumers, building a client base in the process. Without a well-established trademark to attract customers, a business will not be able to survive in the long term. Trademark registration allows you to retain the exclusive use of an image, word or other mark in New Zealand.

How Does Registration Protect My Interests?

If you appear to be making an impact in your industry, other businesses may want to benefit from this goodwill by using a similar brand. The fair use rights granted through registration mean that any company seeking to infringe on your trademark could face many penalties. These penalties include damages for trades lost as a result of the breach, account gains for poorly earned profits, and the immediate removal of any material bearing a conflicting mark. This tends to be enough to stop other companies from infringing on your intellectual property, allowing you to focus on your own reputation.

What If I Want To Sell My Business?

If you are considering selling your business, or even licensing the name in a franchise-type setting, registering your trademark will definitely add value to your business. What it does is create measurable commodities from abstract concepts. Brand identities used to garner goodwill in industry are now something that can be owned, and therefore traded. Whether you have no intention of selling at all, or are actively looking for a buyer, trademark registration is always important to your business.

How Do I Enforce These Rights?

Proving that you have sole discretion to use a particular mark is a straight forward process provided you have registered the trademark. There just needs to be a similarity between your brand and the infringing unregistered mark, and the results will work in your favor. It becomes much more expensive and time consuming if you fail to complete registration, as you will have to take action under the Fair Trading Act.

Add a Comment

Your email address will not be published.