Every entrepreneur knows that starting a new business takes grit and hard work. Building a brand requires equal resilience. In reality, the names and logos that identify your brand are of utmost importance, and legally securing your chosen trademark is perhaps the best thing you can do towards protecting your brand and growing your business.
There are, however, a few mistakes that startups make when it comes to trademark registration and we have listed the top three here. Once you know what they are, you will find it easy to avoid them.
Trademark mistake #1: Delayed filing
There are innumerable things you need to look into when you start a business, and trademark registration may not seem as important or even necessary in light of all the other urgent requirements. Indeed, you may even wish to avoid it, considering it is an added expense.
However, remember, all the hard work you put into building your brand will go to waste if another company trademarks your slogan or symbol and claims it as their own. Find out why it’s important to register your trademark and how to register your trademark in Singapore. View your Intellectual Property expenses as an investment rather than a cost center. Begin the trademark registration process immediately. It’s not as difficult and expensive as you imagine.
Trademark mistake #2: Local mindset
Let’s say you start a fashion boutique in Singapore. You do register your mark in Singapore, but you are thinking short term and focusing on Singapore only as your market. At this stage, it is important to know that trademark protection is territorial by nature and trademark registration in Singapore will give you protection in this jurisdiction only.
As such, if at any later stage, you wish to take your business online and sell your products across the world, then you should seriously consider obtaining protection overseas. You can do this either through national filings in the countries of interest or via the Madrid System which allows you to seek trademark protection in multiple countries simultaneously.
Trademark mistake #3: Taking your friend’s word for it
Your friends will always give you free advice about the need for registering a trademark or how to do it. Most of this information will be based on their own experience, and it could possibly be outdated, incomplete, or biased. This is why, it is recommended to take advice from an expert in the field, who will know exactly what needs to be done, and how to go about it. They can also help you avoid potential pitfalls.
Please keep in mind that it is not complicated to file a trademark. However, it can be a challenge to obtain registration for a useful trademark, in choosing the best version of the mark (black and white or colour, wordmark, device mark or combined mark, etc.) with an accurate selection of the classes, goods and services.
At IPHub Asia, we help businesses register their trademarks. If you have any questions regarding potential trademark mistakes you could make, or require solutions for your trademark rights in Asia, do get in touch.
You can also visit our website to know more about what we do and the services we offer.