The Value of Trademarks – We are often asked about trademarks and whether they are worth the investment. The simple answer is yes.
Benefits of Trademarks
In order to understand the value of trademarks, you need to understand their benefits, these include:
1. Increases value and enables the owner to sell a trademark, license it or franchise it;
2. National recognition and protection;
3. Prevent importation of counterfeit products bearing your trademark;
4. Provides exclusive use, and enables you to prevent others from using your trademark or anything similar;
5. Long term protection, with 10 year validity from registration;
The Value of Trademarks to Domain Name Owners
We often find that professional domain investors and business owners, both see the benefit of trademarks when time comes to sell a domain or a domain and business. Trademarks are both a sword and a shield for domain name owners. Some of the benefits to domain name owners are:
The Trademark Process
In Australia trademarks are administered and managed by IP Australia, who is often referred to as the Trademarks Office.
Once you apply for a trademark it takes approximately 7.5 months before it is registered, unless it is subject to an adverse report or an opposition.
A trademark needs to be registered in classes. Classes identify the scope of the protection. For example McDonalds (among many other requirements) would need protection for ‘restaurants’ and ‘take away food’. Identifying the correct classes is often a challenge. This is usually where many self filers run into trouble.
It is best to engage a Trademarks Lawyer or Attorney who can assist you through this process. Once the application is filed it is then examined by the Trademarks Office. If it passes examination, it is accepted and advertised. Once acceptance is advertised, a trademark is subject to opposition for 2 months. If no one opposes it within this time, then it proceeds to registration.
Explainer clip courtesy of Cooper Mills Lawyers