2020-10-05
Your brand is your business identity. Whether you have a well-established brand or are in the process of building one, it may be beneficial to register your trademarks. The ability to stop others from using the same or similar names in association with the same or similar products can be invaluable and makes trademarks a valuable asset worthy of protection.
Using a trademark in the Canadian marketplace means you are acquiring "common law" rights even if you do not own a registration. However, these rights are limited in scope. It is advisable to get trademark registration. Here are some significant benefits of registering your trademark in Canada:
- You Gain 10-Year Nationwide Trademark Protection Across the Country
Having an unregistered trademark in Canada means your protection is limited only to the geographical areas where your trademark is used and known. Registering your trademark is advisable since it provides you with comprehensive federal protection.
A registered trademark in Canada gives you the exclusive right to use the trademark related to your goods and services associated with your trademark across the country without any geographical restrictions. It is also valid for up to ten years and can be renewed indefinitely as long as the trademark is used in the marketplace.
To renew your registered trademark, all you need to do is to pay the renewal fee. Filing a declaration of continued use is no longer a requirement for a Canadian registration.
- You Have an Improved Ability to License Trademark Rights in Canada to Others
Both registered and unregistered trademarks may be licensed. However, a brand protected through a registered trademark can be considered a valuable business asset. The value of your license may be greater when your trademark has been registered. This is because the trademark owner's rights to the mark are better defined and more easily enforced against others.
Licensing your trademark can be used to facilitate the growth of your brand by expanding the scale of your operations or increasing your reach through expansion. It may also provide a revenue stream over and above your increase in brand value.
- You Get the Right to Exclusive Use of the Trademark in Canada
Registering a trademark gives you statutory exclusive rights to use the trademark for the goods and services with which it is associated in the country. To obtain this exclusive right, you can apply to register your trademark even before starting to sell the goods or services associated with the mark to the public.
Consider applying for your trademark registration as early as possible. The same and similar marks that already exist on the Trademark Register can prevent you from successfully obtaining a registration or cause delays. Doing this may also prevent you from falling victim to trademark trolls who extract payment from mark owners who failed to protect their brands in a timely manner.
Conclusion
Your brand serves as the face of your business in the Canadian marketplace. Therefore, it is an important asset to your company that you may wish to protect proactively. Obtaining a trademark registration may offer you a good return on your investment. When planning to register your trademark, a registered trademark agent can provide invaluable assistance.
We understand that intellectual property (IP) rights are crucial for your business, which is why our intellectual property lawyers and agents in Alberta can provide assistance. Contact us for a free consultation!
