Growing a business can be a very exciting time but it can also scary at the same time! You might have heard of horror stories of businesses being told to change their name or stop trading. By exploring the benefits of Trade Mark registration, you can see how trade mark can become a business asset, potentially saving you thousands of dollars and NOT letting your brand be stolen.

So how do you protect your “investment”? This is not just the dollars spent in the set up process but also the blood, sweat and tears setting up your brand. How do you stop your rivals and competitors from “ripping off your idea”?  How do you ensure that someone else isn’t going to come along and make you change your name? How do you OWN your brand? 

The only solution is to secure trade mark protection for your brand

What is a Trade Mark?

A trade mark is a sign that is used in trade to help separate your business from other businesses.  This can include your name, logo, tag line or slogan, packaging, colours, shapes, sounds or scents if they are unique to your business. 
  

Trade Mark Registration gives you exclusive rights for your brand in your nominated classes of goods and services for your business (which are broken into 45 categories).  Trade Marks can be obtained in as little as 7.5 months (if no problems are raised) and can be renewed every 10 years once registered – so it is vital to think about protecting your brands before you start your business so others can not steal your name or your branding ideas!

Why do I need a trade mark?

Trade Marks are not compulsory and are often forgotten about when setting up a business but this is the only way that you can get your name protected and stop others from copying your name/brand.

Many businesses are under the misunderstanding that if they are using their own name, or have a registered business, company or domain name that they “own” the name.  This is wrong!  A trade mark is the only way you can get monopoly, proprietary rights to a name and stop others from copying you! Here is an example of a real business affected by trade mark actions:

I’d recommend a Trade Mark Search at the pre-launch stage of any new business is recommended not just to protect your band but to make sure you are not infringing on anyone else's brand.  If your new name is too close to another traders you not only have to start your business again but this is a mistake that can cost you thousands of dollars.

Trade Marks can save you how much?

You can attempt to lodge your own Trade Mark online for as little as $370 per class although it is always best to leave it to the professionals to make sure you are properly protected.  You could obtain a full registration that is valid for 10 years, in one class for as little as $1,290 (assuming no objections or oppositions were lodged). 

When you weigh up the possible costs incurred if you were sued including the other party’s costs if they are successful, it could cost you up to $200,000 in legal and associated costs.

Trade Mark protection is not just reserved for those multi-national companies, it is for all businesses, small & big – that want to gain an asset and stop others stealing their brand.  

Rebecca Stalenberg, is a Registered Trade Mark Attorney and Solicitor (NSW & Federal Courts) with 10 years experience in the Legal Industry providing practical legal advice without all the “legal jargon”. For more information on Rebecca visit her website at www.markyourterritory.com.au

What are your thoughts? Add a comment below and share your experiences with others. If you would like to look into trade marking your brand, email tony@thebrandmanager.com.au

Your website is your address on the web, whether online, brochure or a full retail shop – it’s often the first impression that someone will get about your business. Make sure each page of your site is correctly titled, has relevant and targeted information in the first paragraph and metatags or keywords added to the source code. You as the business owner or key stakeholder need to have a profile page too so that it will come up when people 'Google' your name.

Whether you share news about your day to day business or personal experiences you have, creating your own blog is a great tool towards online brand awareness. Keep your blog posts short, relevant and entertaining – always consider the reader and ask yourself ‘why would they care about this story?’.

Step Three – Create Your Online Network

Social and business network portals like FaceBook, Linked-In and Ecademy allow you to establish links with other people across the web. The power of each individual link is that it opens the door to their business and social links and then the links of the people as well – and so it goes on. In no time at all you can build a network of thousands – and all without leaving your computer or handing out a single business card. Once again you need to spend time on creating your profile for each platform and be sure to provide links to your business website and your blog.

Step Four – What’s All The Twitter About?

One of the fastest growing networks is Twitter – the online short text forum where you add your ‘Tweets’ about what’s going on in your world. From popstars to politicians, movie actors to business moguls – Twitter offers the opportunity to tap into someone’s personality. You can choose a style, theme or topic for your Twitter account and then attract followers to you as you add tweets from your laptop, email or even mobile phone.

Step Five – Spread The Love

As you build up your content you will start to create a library of articles, stories and interesting tips that can easily be shared with others. Try and get them published in someone else’s newsletter, posted on their blog, featured in an online publication or made available as a download – the more you have the more you reap in credibility over the web. One story in a leading online publication can help push you to the front page of Google on a specific search for you, your business, topic or area of expertise.