Trademark Law Synopsis
A trademark identifies a particular good or service with the name or brand of the business. A business name or domain name are not trademarks unless they are registered as trademarks.
Once a trademark is created, it is extremely important for a trademark to be registered, in order for the trademark to have the maximum protection from any infringement. On registration of the trademark, the registration is valid for an initial period of 10 years and can be subsequently renewed for 10 year periods thereafter.
There are a few legal requirements which are required to be met in order for a Trademark to be registered. The most important of them all, is that the Trademark should be capable of distinguishing the applicant's goods or services from those of another. Therefore, Business Names which are descriptive of its goods or services will be hard to register as a Trademark. The only exception is if a business name although being descriptive, has developed a significant brand in Australia that people easily recognise.
There are various classes of goods and services under which a trademark can be registered. Deciding which class of goods or services to register will depend on various factors such as the existing business for which the trademark is being used, the future business for which the trademark might be utilised, etc.
As the business grows, the trademark will also grow in value through the brand and goodwill of the business. A major benefit of registering a trademark will allow the owner of the trademark to treat the trademark as an asset of the business and therefore the trademark can be monetised through assignments, licenses, joint-ventures and when selling the business.
If you need any intellectual property advice or registration of a Trademark, please contact AJR Lawyers, and you will be provided with the necessary advice and service at affordable costs.