4 Reasons To Register Your Business Name as a Trade Mark
Unless you intend to trade under your own name, you must register your business name. However, it is important to note that registering your business name does not automatically give you rights over the name. If you want to have exclusive rights to your business name, you will need to apply to register a trade mark. There are a number of benefits to registering your business name as a trade mark. This article will take you through four key reasons why you should consider it.
1. Avoid Legal Issues
It is a legal requirement that you register your business name. If you have an Australian Business Number (ABN), you can do this with the Australian Securities & Investments Commission (ASIC). If you are a new business, you may not already have an ABN. To get one, you can register your business and business name with the Australian Government Business Registration, which will give you an ABN and place your business on the Australian Business Register. Operating your business with an unregistered business name will result in a fine.
However, registering your business name does not give you rights over it. Instead, you will need to get a trade mark, which will give you exclusive use over your business name. This means that no one can use the name without your permission. Having a trade mark on your business name is also a great way to ensure you are not infringing on someone else’s intellectual property, which has potential consequences.
2. Develop a Brand
Registering your business name as a trade mark is a great way to develop your business’ brand. The perfect business name makes it easy for people to recognise the purpose of your business, connect with it, and potentially share it around to help you create more business and generate more revenue.
Without a registered trade mark over the name, other people can use it for themselves. This could damage the reputation of your business and impact your brand. Having a trade mark is one way to help make your business legitimate.
3. Protect Your Business Name
Having a trade mark on your business name gives you a number of protections. If someone is using your business name, you will be able to enforce your rights over it. These rights include stopping someone from using the name and receiving financial compensation for the harm caused by someone using your business name as their own.
It is important to note that even if a company has not registered their business name as a trade mark, you still might not be able to use it. If a business has been using an unregistered trade mark for a long time and has a reputation for it, this will make it difficult for you to register your trade mark.
4. Access International Markets
Registering your trade mark in Australia is also a great way to expand your business overseas. This is because, to register your trade mark internationally, you must first have your trade mark registered in Australia or have applied to register your trade mark in Australia. While an Australian trade mark will only provide you protection in Australia, having your trade mark registered in Australia is the first step in receiving registration overseas. This is a great way for you to tap into overseas markets and expand your business internationally.
Your business name is an important part of your business’ identity. As well as being a legal requirement, it connects people to your brand and is an essential part of your business’ IP. If you need further legal assistance with trade marking your business name, our experienced trade mark lawyers can assist. Call us on 1300 657 423 or complete the form on this page.
Frequently Asked Questions
A trade mark is a type of brand protection that allows you to distinguish your product or service from all of your competitors. A trade mark gives you exclusive use to the licensing and selling of your trade mark and can help you grow your business and increase the value of your trade mark.
It is not a legal requirement. However, it is a requirement that you register your business name with the Australian Government Business Registration. Registering the name as a trade mark can help ensure that you are not infringing on someone else’s Intellectual Property rights.
There are a number of benefits. These include avoiding infringing on someone else’s intellectual property, helping you develop a brand, protecting your business name, and helping you to expand your business overseas.