When Should a Startup File for a Trade Mark?
Emily Young
Major companies do not establish their brand overnight. Instead, the process takes place over a long period of time and requires significant investment in intellectual property (IP). This includes investment into trade marks. Therefore, this article will take you through the importance of trade mark registration for your startup.
When Should a Startup File for a Trade Mark?
The best time for any business to file for a trade mark is as soon as possible. This is particularly true for startups seeking to establish brand recognition in a competitive market. In fact, registering trade marks prior to launching your startup is ideal. Indeed, trade mark registration will provide security over your brand before it is exposed to competitors and reduce the risk of infringement.
If you decide to register a trade mark prior to launch, you must provide evidence of your intention to use your trade mark. This requires you to determine the goods or services your startup will be providing and how your trade mark will apply to them.
Why is Trade Mark Registration So Important for Startups?
There are some key reasons why you should commence trade mark registration as early as possible.
1. Brand Recognition
Having a trade mark is a great way to create brand recognition. A trade mark distinguishes your brand elements from your competitors, which can help consumers remember your brand and make your startup competitive.
With so many new companies being established all the time, trade mark registration is more important than ever to distinguish your brand from competitors.
2. Encourage Investment
Trade mark protection is one way to encourage investment in your startup. Not only does it add to your startup’s value from investors’ eyes, but it also shows that you have plans to grow your business. Further, trade mark registration prevents trade mark infringement disputes, which adds to your startup’s security and encourages investment.
3. Attract Talent
If you have a solid trade mark portfolio, your brand will be considered reputable. As well as encouraging consumers to engage with your startup, it can also draw in employees who want to work with you. Attracting the right talent will contribute to the growth and success of your startup.
4. Avoid Legal Disputes
Without registering your trade marks, your business is potentially exposed to infringement disputes. This can be a complex and expensive process that risks your brand reputation. Therefore, any measure to avoid such disputes will be a valuable investment in your startup and its future.
5. Increase Your Start Up’s Value
Your IP is your startup’s greatest asset. Having a portfolio of strong trade marks will provide additional value to your business. Registered trade marks give you exclusive rights to use, commercialise and license them. Licensing is an easy way to add a passive income stream to your startup.
Key Takeaways
As a startup, the best time to register a trade mark is now. It is even encouraged that you register your trade marks prior to launching your startup to provide extra protection. Registering as soon as possible has a multitude of benefits. This includes:
- building your brand recognition;
- encouraging investment;
- helping you attract employees;
- avoiding legal disputes; and
- increasing your startup’s value.
If you need help applying for a trade mark, get in touch with our experienced trade mark lawyers. You can call them at 1300 657 423 or by filling out the form on this page.
Frequently Asked Questions
The best time for a startup to file a trade mark is as soon as possible. This will ensure brand security in a competitive market and help establish your brand reputation before launch. In addition, registering a trade mark early will reduce any incidences of trade mark infringement.
There are many benefits to applying for a trade mark as soon as possible, particularly for startups. This includes boosting brand recognition, encouraging investment in your startup, building a solid team, avoiding legal disputes and increasing the value of your startup.