What is a trademark and why is it important?

A trademark is a registered type of intellectual property (IP) right that protects a business’s unique products, services or brand. The Trade Marks Act 1995 (Cwlth) provides for the registration of trademarks, collective trademarks, certification trademarks and defensive trademarks and sets out and protects the rights deriving from registration.

You can trademark a:

• Word
• Phrase
• Logo
• Letter
• Number
• Symbol
• Sound
• Shape
• Image
• Scent

Or a combination of the above items.

You cannot trademark:

• Common words, phrases of images
• Geographical names
• Common surnames, even if they are your own
• Prohibited signs
• Restricted financial terms

There are many reasons why having a registered trademark is important. Once a trademark has been registered, it provides you with the exclusive rights to use your trademark in Australia and prevents other business from using your trademark without your consent. This is a benefit as it provides clear statutory framework for enforcement. It also provides you with exclusive rights to sell or license your trademark for others to use and protects your trademark in all Australian states and territories. So it is also an asset.

Generally, the more successful your business becomes, the more valuable your trademark becomes. Having a registered trademark can assist in developing a business’s brand loyalty. In Australia you can register your trademark for a 10 year period and renew every 10 years for a fee. You can also register your trademark in other countries on a country by country basis. Before applying for a trademark you should do a search on the IP Australia TM Checker to ensure your trademark has not already been registered.

If you require any assistance with registering a trademark or would like more information about how a trademark can benefit you, please contact our office on 03 9707 1155 or admin@wslegal.com.au.