“The best way to maintain a trademark is to use it.”
IP can be the most important asset of a company through the goodwill associated with it. When properly used and maintained, trademarks can last forever. However, one has to be aware that some maintenance is involved in keeping a trademark valid.
Trademarks can be the most important asset of a company as they are its main goodwill. When properly used and maintained, they can last forever. However, one has to be aware that some maintenance is involved in keeping a trademark valid. Generally, trademarks have to be renewed every ten years. It is also critical to keep the marks’ details (such as the applicant’s name and address) updated at all times and to record assignments or licenses of the marks on a timely manner.
Furthermore, if a registered trademark has not been used consecutively for a certain period of time (three or five years, depending on the jurisdiction), there is a risk for the trademark to be removed from the Register. Indeed, any interested party could apply to have an inactive registered trademark removed by showing proof of non-use.