Your company’s IP (intellectual property) is the most valuable business asset. Since for you having your brand secured is vital to your business prosperity, you need to treat it in a right manner. This coverage stretches to trade mark protection where, by applicant filing an application for trade mark registration, they obtain the right to be identified with their mark. Trade mark Registration basically means formally and in legally way protect your trade mark which will give you direct and exclusive rights to use the trade mark. It not only bestows you the right to prevent others from embarking on that path for their own gain, but also gives you the right to own that resource. Although being trade mark protected is hugely benefitting your business, the prosecution of a registration can be very strenuous. This article is going to move you through three of the most trade mark issues that are now confronting businesses.
1. Increased Competition
As a result of globalization, which gives us more export opportunities, it is more accustomed to secure your trade mark in a country. The business could be capable of operating within the country or it may be interested in occupation of the international market. In case of such circumstance, it might be worth to apply for international trade mark registration.
International trade mark registration has a lot of advantages which are for the purpose of getting a way to enter new markets and increase your business. Another disadvantage is that consumers may choose a foreign trademark that matches or is similar to yours in an overseas country. Such may negatively affect the process of the trade mark, not being rudimentary but noticed as similar to another existing trade mark.
2. The Waiting Times for The Whole Process
The lengthy wait in trade mark is a problem when it comes to businesses. Normally, although on average it takes 15 weeks to process trade mark applications from the time of submission, there are several stages and measures that are to be covered until a successful registration is pronounced. This is reflected in an example like one of the examination reports being negative or it was awarded that the trade mark is being opposed, and this can totally delay the process by months so that one can wait for years sometimes. Yet, it has to be clarified that the effective date of any rights provided will not be delayed by stopping the application. You have trade mark right from the day of submissions. Even in spite of this, delays may consume the business’s time and money, two factors which are less desired in business management.
3. Surveillance
In this case, monitoring whether there are copyright violations of the website through the assistance of Internet Service Providers (ISP). Payment of trade mark is the key to only the first time of trade mark process. Once the registration happens, ‘you ought to keep on paying attention to the mark so you can catch similar and same marks as yours for opposition. Although it is IP task to filter the trade mark application, you need to give attention to other parties applying for a trademark on your goods or services. You will then need to react steadily to defend your trademark against infringement. It is now going to be much more difficult to watch new trademarks than it has been in the old days. The rise of the internet as a channel to spread rumors comes into play. It’s a significant factor. Therefore, the stealing of trademarks has become much easier, and the enforcement of trade mark rights has become less attainable. Such problems are the impossibility for an owner of the trademark to control every business that aspires to use his trademark. Though, it is crucial constantly to be aware to act promptly to remediate and prevent harms to your trademark and goodwill.
Key Takeaways
Saving your company’s IP is a point of achievement in your business progress and beside of its essential value, it protects your business’s brand from being ‘stolen’ by your competitors. However, there are a number of trade mark challenges facing businesses today, including:
- the risk of a surge in the competition
- postponements in handling times; as well as 24.4
- cracking down on counterfeiters, especially when it comes to keeping up with the cases of mark infringement.
For help navigating these challenges or general trade mark legal assistance, our experienced Intellectual Property Lawyer Irving, TX can help. Get in touch with them on call or via email.