Starting and sustaining a business takes hard work. If you do everything right from the beginning, your business will likely gain the reputation and awareness you envisioned. Here comes the importance of trademarking. Let’s see how.
Unfortunately, gaining a reputation can attract attention from the wrong people. These include people who may want to use your brand name and logo for marketing their products, which can negatively affect your business. The best way to protect your brand against such is by registering your brand name and logo as trademarks.
If you are unsure how trademarking your brand name and logo can help your business, this guide can help you get insight into all you need to know about it. First things first, however, you need to create a logo with a logo maker and generate company logo a brand name then trademark them.
What Are Trademarks
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A trademark is a recognizable symbol, sound, or name used by a business to identify its products and distinguish them from competitors. They are part of a business’s intellectual property registered for protection under most countries’ trademark laws.
In Canada, trademarks are registrable through the Canadian Intellectual Property Office (CIPO). Upon successful registration, the applicant receives a certificate of registration which acts as proof of ownership of the trademarks.
Also, trademark registration ensures that the trademark owner gets exclusive rights to use them and has the legal right to stop others from using them, including suing for infringement.
Trademarks Protections Run for Ten Years
Every type of intellectual property protection runs for specific years. For example, copyright protections run for the entire life of the creator and 50 years after their death, while trademarks run for ten years from the date of registration.
But unlike other types of IP protections such as patent, industrial design, and copyright, trademark protections are renewable after the expiry of their tenure. All you will need is to pay a maintenance fee.
Trademark protections are open for renewal six months before the expiry date. However, CIPO allows for a six-month grace period after expiry before dropping protections for brands that do not renew their protections.
Trademarking Helps Protect Your Brand’s Reputation
If you have successfully built brand awareness and reputation, you know that getting there is no small feat. For that reason, you wouldn’t want another person or entity clawing back on your efforts by destroying your brand’s reputation.
Unfortunately, other people can use your brand identifiers to profit from your reputation. While they may want to profit from your reputation, they will not be keen on upholding your quality standards.
When a customer buys from them, in their mind, they believe they are buying from a brand they have come to trust.
If the product doesn’t satisfy the consumer, your brand will suffer a dent in its reputation. By preventing others from using your name, you are assured that only genuine products are in the market, which means that you will be solely responsible for what happens to your brand reputation.
The Cost of Registering Your Brand Name and Logo
There is no one price for registering your trademarks. The cost of registering your brand name and logo design will depend on several factors, including professional fees, official fees, and applicable taxes.
Professional fees can vary with your choice of professional. Official fees start at CAD $335.93 CAD for the first class of goods and services you intend to market using your trademarks and $101.80 CAD for any other class of goods and services.
Taxes will depend on the cost of hiring a professional since professional fees are taxable.
In total, trademark costs in Canada will be between $ 3000- $5000 CAD, reclusive of tax. This cost will be spread across the entire registration process, which can take up to 18 months or more in rare cases.
Final Words
The cost of registering your trademarks may be high at face value, especially for startups. But it’s nothing considering the losses you can suffer through trademark infringement.
Also, the process can be significantly more complicated than it sounds, so you must work with an experienced professional.
