What’s the first thing that comes to mind when you see a pair of glorious golden arches, or hear the phrase ‘just do it’? There are some brands so embedded in our popular culture that their names or logos are recognised by almost everyone.

For most people, one of the hardest parts of building a strong brand is landing on the right idea and marketing it appropriately. However, if you don’t protect the value of your brand name, logo or tagline from the get-go you could be at risk of losing everything, regardless of how innovative your idea or product may be.

No matter what industry you’re in, your branding is what separates your products or services from the competition. Whether you have been operating successfully for years or are just starting out, it can be important to establish and protect your business’s identity. One way you can do this is through a registered trade mark, which we found is more cost-effective than you might think (we’ll get to that soon).

Is a trade mark relevant to my business?

Put simply, a registered trade mark is a kind of intellectual property that can help stop others from using your brand name, logo or distinctive phrasing in the same category as you.

IP Australia is an Australian Government Agency which administers intellectual property rights for trade marks, patents, and design and plant breeder rights across the country. We talked to an IP Australia representative to get a better understanding of registered trade marks and their potential benefits.

The spokesperson from IP Australia explains the value of registering your business with a trade mark, and why it could be valuable for business owners of all shapes and sizes.

“A trade mark can help build a memorable experience with customers, and lead to brand loyalty and repeat business,” their spokesperson says. “A registered trade mark gives you exclusive rights to use that trade mark as your brand in Australia, help avoid legal disputes and build brand recognition.”

Setting up your enterprise with a registered trade mark is one way to build your brand with long-term prosperity in mind. Running a business is already a pretty taxing full-time job, so having to completely rebrand due to a clash with someone else’s registered trade mark can be a costly and highly emotionally draining experience.

Not only does owning a registered trade mark protect your business against competitor disputes and copycat marketing, but it may also solidify your brand as a trustworthy choice for your customers.

Registering a trade mark allows you to use the ® symbol. Image: Kochie’s Business Builders.

Is my original idea enough to protect my business?

Registering a trade mark should not just be on the radar for new businesses. Regardless of how many years your shopfront, service or online business has been successfully operating, if you haven’t protected your name or logo against competitors, you may run the risk of losing the rights to it.

“An example we often use at IP Australia is The Fat Duck,” says IP’s spokesperson. “A Sydney café was successfully trading under the name for years; however, had never registered a trade mark.”

The Sydney cafe was sadly forced to relinquish their name and rebrand when celebrity chef Heston Blumenthal filed an application for trade mark protection. Intending to reserve and protect the name for his chain of fine dining restaurants, Heston’s company filed a claim in the Federal Court of Australia and won, having filled all the requirements for the trade mark rights.

If all goes well, your business’s value will likely increase the longer you operate for, meaning it’s far more financially savvy to protect your assets and branding as early as possible. Depending on the class your goods and services are associated with, registering a trade mark with IP Australia starts from as little as $250 for a standard application.

Time to do your research…

Before you invest your time and money into a brand, it can be important to make sure you aren’t betting all your life savings on a taken horse.

Even something as simple as spelling could potentially cause legal issues for your brand down the track, so checking the availability of your business name and domain name could save your future self a lot of trouble. IP Australia has created a new tool called TM Checker where you can check the potential registrability of your brand name in Australia.

Registered trade marks are determined based on 45 different classes of goods and services. For example, the name of an up and coming cafe may not necessarily impede the trade marked rights of an existing software company.

“Think about what your customers pay you for,” says IP Australia’s spokesperson. “Those are the kinds of goods and services you could select when registering for your trade mark.”

For more information, see IP Australia or check out IP Australia’s TM Checker tool.

This article is intended to provide general information regarding intellectual property and does not constitute legal or professional advice. It is not intended to take the place of legal or professional advice and should not be relied upon as such.

This article is brought to you by Kochie’s Business Builders in consultation with IP Australia.

Feature image: AdobeStock