It is optional to register your trade mark. However, the registration process makes it far easier to take advantage of all the benefits a trade mark brings. A trade mark protects your intellectual property (IP) and gives you exclusive rights to use your mark. However, there are several other rights a trade mark gives you that make your trade marks a valuable asset to your business. This article will take you through four rights a trade mark gives you.
Our free Trade Mark Essentials in New Zealand guide explains how to register and defend your trade mark registration.
Exclusive Use of Your Trade Mark
A trade mark registered with the Intellectual Property Office of New Zealand (IPONZ) gives you exclusive rights to the use of your mark on a national scale. This exclusive use allows you to distinguish your brand from others in New Zealand. Further, this will help you build up your brand recognition, increasing your business’s value over time.
A trade mark registered with the IPONZ will only give you the exclusive rights to use your mark in New Zealand. However, having a trade mark registered in New Zealand can make applying for a trade mark overseas much simpler. As such, you can leverage your New Zealand trade mark registration to expand your brand overseas.
Ability to Commercialise Your Trade Mark
Another excellent right that a New Zealand trade mark gives you is the ability to commercialise your trade mark. This includes licensing your trade mark. Trademark licensing is a great way to earn an additional income stream without giving up your exclusive rights to your mark.
Trade mark licensing grants third parties the right to use your mark within specified parameters.
Trademark licensing is commonly seen in franchise agreements. Franchises use licensing agreements to grant franchisees the right to use a business’s intellectual property for the length of the franchise term.
Continue reading this article below the formAbility to Use the Registered Trade Mark Symbol
A registered trade mark gives you the right to use the registered trade mark symbol, the ® symbol.
The use of the registered trade mark symbol has several benefits. For example, it is a deterrent to competitors by showing that your trade mark is registered. Another advantage of using the registered trade mark symbol is that it can help inform consumers’ purchasing choices. This is because the registered trade marks symbol is seen as a sign of legitimacy to the public and may increase your sales.
Legal Protection Of Your Mark
Having the exclusive rights to the use of your trade mark includes the right to prevent others from using your trade mark without your permission.
Once you have registered your mark, you will have clear evidence of your ownership. Then, you can enforce your rights where necessary and prevent others from using a mark similar to yours in the market.
For example, you might see a competitor business using your trade mark or a trade mark that is quite similar to yours. Whether they had malicious intentions or not, you can take measures to prevent them from using your mark. This might include sending a cease and desist letter notifying the infringing business of your rights and demands. If the infringement does not stop, you would also have the right to take the matter to court to have the infringement cease.
Key Takeaways
A registered trade mark is an excellent way to protect intellectual property and encourage business growth. Some of the rights that a trade mark gives you include the right to:
- the exclusive use of your mark;
- commercialise your mark;
- use the registered trade mark symbol; and
- enforce your trade mark rights.
If you need assistance registering a trade mark for your business, our experienced franchise lawyers can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on 0800 005 570 or visit our membership page.
Frequently Asked Questions
Some rights that a trade mark gives you include the right to the exclusive use of your mark and the right to commercialise your mark. You will also be able to enforce your trade mark rights to prevent unauthorised use of your mark. With a registered trade mark, you can also use the registered trade mark symbol.
Although you do not have to register your trade mark, the registration process makes it far easier to take advantage of all the benefits a trade mark brings. This is because trade mark registration is clear evidence of your rights to the trade mark.
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