Saturday, July 30, 2011

Benefits Of Registering Your Company Trademark

A trademark is a name or symbol that represents the origin of a particular product or service. It includes a word, phrase, symbol or design that serves as a distinguishable feature of one product or service and sets it apart from others of a similar nature.

Although it?s not mandatory to register a trademark, doing so can bring a lot of benefits to a business owner. Among them is he or she can offer licenses and franchises to interested parties. This signifies another efficient revenue stream. Owning a legitimate trademark also prevents third parties from using similar terms or names, or designs that are identical to your trademark, which, in turn, provide an unlevel playing field and unfair competition. Today, registration of a trademark also provides protection for the internet domain of a business.

In the Lion City, it is the Intellectual Property of Singapore (an agency under the Ministry Law) that processes the registration of trademarks. Singapore also offers a more convenient and easier trademark registration procedure with the help of certified registration firms.

Although it is not discouraged to file directly with IPOS, engaging the services of a registration agency saves the business or brand owner time, money and effort. The standards set by the International Classification of Goods and Services serve as the basis of classifications for trademark registration in Singapore. And while trademark registration is not compulsory, owning a registered mark incidentally gives a person or an entity the privilege to acquire common law rights.

There are, however, certain marks that the Intellectual Property Office cannot provide legal protection. For instance, the Trademark Law in Singapore does not encourage the application for the registration of descriptive marks. Moreover, owners of marks that are offensive or contrary to public policies will not obtain certificate of registration from IPOS. Consulting with a certified registration agency can help business owners in understanding the trademark policies, particularly on how they can protect their brand through intellectual property rights.

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