What is a trademark? In simple terms, it’s a mark used to associate with a particular good or services. Certain trademarks are so recognizable (think Apple, Starbucks and Ferrari) that the sight of it immediately connects us with the brand and what it means to us.
Most, if not all businesses, recognize the important of a trademark. Trademarks are valuable assets that can be monetized. Trademarks can be assigned or licensed for a fee and constitute an asset that can be sold as part of a business.
However, what happens if someone decides to copy your trademark? Imagine selling a product you spent years developing, and one day someone sells a similar looking product with your brand on it?
Registration – the best form of protection you can have
Under the law, a trademark can be registered by its owner. Such registration will grant the owner of the trademark the exclusive use of the trademark. What this means is that upon successful registration in Malaysia, no other party can use your period without breaking the law.
This protection is extremely important for businesses as it grows. Unscrupulous third parties may try to copy your products using your trademark. If your trademark is registered, the law allows you to seek remedies from the Courts and the authorities to seize the counterfeit goods using your trademark. You are also entitled to compensation from the parties using your trademark without your permission.
Don’t wait, be safe
To ensure that your trademark is protected and not utilized by unscrupulous third parties, take the conscious decision to register your trademark and ensure that you can give the necessary protection to one of your business’ most valuable asset.
– This article was written by Justin Ong. Justin is a partner at Justin Faye & Partners and a registered Trademark Agent.