We examine the advantages of registering your trade name early in the digital age.
While chasing the thrill of launching an innovative product, business or service, many businesses do not take the time to protect the most important elements of their brand which leaves them open for third parties to steal and utilize for their own gain.
Although there isn’t a perfect or incorrect time to apply for protection for your trademark or marks, according to our experience, earlier is more effective.
When you or your creatives develop the concept of a brand design or logo research must be conducted to determine if the trade trademark is suitable for registration and use with respect to the products or services that it is referring to.
This will provide a clear hint as to whether the trademark you’ve selected could be challenged by third party.
In all likelihood it is recommended that an application for a trade mark must be filed as quickly as possible, regardless of whether the launch of the product or company isn’t imminent.
Here are the nine reasons:
1. It’s much easier to fight duplicates
Trademark registration gives an even stronger legal right to assert against third parties rather than relying upon other rights not registered like copyright or passing off. This is due to the fact that there is a specific date when protection began and the extent of protection is defined in the specifications.
2. It reduces the chance of being harmed.
While the findings of any research conducted could indicate that the risk of the use and registration of the trademark is not too high This could quickly change when applications are constantly being filed.
In the time between the time of searching and filing the application, it’s possible that a third party could seek to register the same or a similar trademark for the identical or similar products or services, which could block the registration and use of your trademark. To reduce the possibility that this could happen, you must submit your application as soon as you can after receiving your results from your EU trademark search.
3. It can help you save money.
Trade mark registrations might be ineffective due to opposition from third parties. If the opposition is successful, you could be required to rebrand the product, which is less difficult when you are in the beginning of marketing your products or service. It is more costly in comparison to the cost when you are further along the road or have gone to the point of launching your service or product to the general public.
Also, you can reduce the possibility of infringement in the event that the issues are brought to light prior to your trade mark being used.
4. It will add value to your business.
Trademark registrations are intangible assets which are considered when valuing businesses. If you’re selling or transitioning from your business, you must be prudent that you have the right registrations to last for the life of the company or product.
5. It gives you the “takedown ability
The registration of a trade mark can also provide more protection against infringement through online selling platforms like Amazon as well as social media sites including Facebook or Instagram. On these platforms the registered trade mark can be used to request “takedowns” and is required to access Amazon’s brand registry online.
6. International protection
After you’ve submitted the application within the UK Any subsequent filings that you file in other countries for the same mark within the period of six months following you’ve filed your UK application date known as the “priority period” will be able to benefit from protection that is retroactive to the UK day of filing. You can take advantage of the “priority period” when you file your international trade mark applications within the period of six months after that UK file date.
7. You get priority
When you file your first application prior to the launch of your service or product, you reduce the chance of a third party submitting the filings preemptively for your mark or similar marks that gives them priority over you and let them benefit from your future success , or hinder your registration of the mark in your home country and overseas.
8. Someone else could be able to successfully get your mark registered
However, if you introduce your product or service, and it’s an instant success, however you haven’t taken steps to protect your trademark it is possible that third parties have registered the mark and there’s little you could do to obtain it back legally standpoint. It could lead to you needing to pay the odds to buy rights to your trademark or even force you to change the name completely.
9. Security in the online world
The digital world in which we live implies it is possible for products to reach worldwide customers and audiences faster than they ever have. This has not just enhanced the value of the brand’s reputation, but also exposed it to possible threats by counterfeiters, copycats and trade mark “squatters”.
With these risks this is why it is vital that proper protection of the trade mark is put implemented as early as is feasible in the creation of a brand, and definitely prior to the service or product that they are intended to be used is released.
UK Business News