It’s my belief that people create their own truths and nothing more starkly demonstrates this than the myth of commercial name ownership. I’ve lost count of the number of times business owners have, with passionate conviction, told me that the ownership of their company name is theirs because it’s ‘registered’ with ASIC.
Convinced they are correct, many cannot believe it, most go away and check the facts, some place their hands over their eyes and just forget they were told. So let us make it clear once and for all.
A company, person or organisation does not own their name, brand or both, unless the word mark and/or brand icon is certified as a trade mark by the Trade Marks Office in the relevant product or service class. ASIC, Pty Ltd Registered etc does not give you the rights of ownership. In other words they are not protected under the law.
So let’s get down to the consequence of not owning your name and brand. Again this involves another self perpetuated myth. You spend years and copious amounts of money building a brand and it’s worth plenty – it’s called brand asset value and contrary to common belief it’s possibly worth more than your other assets together. Woolworths brand is valued at 10.8 billion dollars, while top of the list Apple comes in at $104.3 billion. Imagine, if you will, the consequences of not protecting their brand with a trade mark?
Test your imagination further when one morning you receive a solicitor’s letter telling you the rightful owner of your brand is demanding a ‘cease and desist’ of the brand’s use. Just think of the carnage, changing the signage, the livery, the advertising, not to mention advising your client base.
The protection of your brand and name is paramount in a world hell bent on litigation and finding easy ways to make money and it’s your responsibility to ensure your company is protected. This is serious stuff folks and you need to find out the facts.
Consult us and we’ll advise you on who to see to get your situation checked out. After some 13 years of working with clients and liaising with Patent Attorneys, we can put you in touch with the right people to help. Don’t get into the name game, it can and will cost you plenty and could even ruin your business.
If your company’s word mark or logo device is not trade marked you’re EXPOSED!