Photo by Priscilla Du Preez on Unsplash
When you think of how to advance your business, most people think of some combination of salesmanship, elaborate marketing practices and improving product quality. There is however something that businesses tend to overlook - creating, growing, maintaining and protecting their ‘brand’.
Building brands establishes a strong connect with customers and helps develop a brand recall which is of incredible value for business owners. But all of that value can be lost if you do not protect your brand.
Three decades ago as much as 95% of the average corporation’s value consisted of tangible assets, according to a report by Thomson Reuters and Interbrand. Today, 75% of that average corporation’s value is intangible.
Whether it’s a new business or an already established one, brand name of a company or a product is an asset that needs to be protected from unhealthy competition and counterfeits. We specialize in helping companies identify these assets, register them as trademarks in Canada and internationally, and protect them from infringement.
IS REGISTERING A TRADEMARK RIGHT FOR YOU?
Do you have words, logos, sounds or smells that distinguish your product? Then registering a trade-mark might be ideal for you. Under the common law, unregistered trade-marks can exist and trademark owners can protect their intellectual property from the action of “passing off” by others. Why would you want to register a trade-mark then?
Registration is Canada-wide whereas passing-off is limited to the geographic locality where the trademark is predominantly used.
When the trademark is registered, the burden of proof is on potential infringers. When the trademark is not registered, the burden of proof is on you!
With a registered trademark, you have 15 years of protection. This protection can be renewed.
Considering these benefits, protecting your brand with a trademark registration can be a good strategic move.