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Registering Your Trademark – A List Of Important Benefits

Australia’s copyright law is embodied in the national Constitution’s section 51(xviii), under federal law. While there are many similarities to British law, the Australian copyright law also takes cue from modern international standards and multilateral treaties, the most recent of which has been the U.S.-Australia Free Trade Agreement. Australia’s membership of the World Intellectual Property Organization (WIPO) gives you access to international legal protection in many major countries.

An updated note by the Queensland Government, published on the state’s Business and Industry Portal provides a list of incredible benefits of formally registering your trademark.

Ownership of your own trademark

By ‘ownership’, you are entitled to legally use the words phrase or letters that you have registered, in line with the classes of goods and services. It signifies your own property over the trademark.

And if you own a trademark, you can sell it or gift it

Just like any other property, a trademark formally qualifies as intellectual property. It is an asset, making it something you can sell. It can therefore also be gifted to another property, just like any other property. The sale of a trademark gives you not only the ‘market value’, but also a component of profit, as well as ‘potential market value’. Clearly, the short term efforts and fees for acquiring a registered trademark are worth it.

Licensing

Legally, you can license its usage, which is relevant when you’re considering a franchise, or several branches. Legally, it allows your licensees to use (not own) the trademark. You can make money by allowing others exclusive access to it. Franchising allows you to expand your business, but without borrowing capital. Instead, you will receive payment for the franchise, simply to use your copyright trademark and other intellectual assets.

It shows up in your balance sheet

As mentioned above, it is formally qualified as an asset. And just like any other asset, it appears in your owner’s balance sheet in monetary value.  This adds to your total evaluation.

It allows you the right to use it anywhere across the nation

A registered trademark is valid across the nation of Australia. This means that if someone is to imitate it, thereby participating in copyright infringement, you can sue them. However, the lack of a registered trademark will mean you will need to prove your business credentials wherever it the infringement has occurred. Firms like Shelston IP will assist you in protecting intellectual property against infringement across Australia.

Legal protection against infringement

You may also receive legal privilege of preventing improper representation of your brand trademark – this qualifies as a criminal offence in Australian IP law. Australian Customs and  The Border Protection Service are obliged to assist you if your trademarks are used in shipping goods to foreign countries with fraudulent usage.

While you do get 5 years of protection from the date of filing the registration with IP Australia, you can renew your registration for five more years. And, you also receive the support of patent attorneys, like the highly recommended http://www.shelstonip.com/services/patents/ in Sydney.