Why You Might Be Losing Money Right Now - The Case for Trade Mark Monitoring
Updated: Aug 9
"A guide to understanding how missed trade mark infringement can cost you money, and why watching over your trade mark is key to running a successful business."
If you're on this page, you've likely navigated the process of self-filing a trade mark for your business - an important step in establishing your brand's identity.
While this is an achievement in itself, remember that maintaining your trade mark's integrity requires vigilant monitoring.
Let's delve into why you need a monitoring service looking out for your trade mark.
After all, preventing problems is easier than fixing them.
The Value of Trade Marks
Your trade mark is more than a logo or a name; it's the public persona of your business.
It's the recognisable signature that denotes the quality and reliability of your product or service.
Through consistent use and customer engagement, your trade mark can increase in value, acting as a signal of your trust and reputation in the market.
The Reality of Trade Mark Infringement
There are two types of trade mark infringement.
Deliberate infringement happens when your brand becomes more recognised and valuable and someone wants to trade off your reputation.
Innocent infringement happens when another trader isn’t aware of your brand, and they come up with a similar brand for their own business.
Both types of infringement have the potential to dilute your brand’s uniqueness, and also lead to customer confusion and financial loss.
Don't let this happen to you
I recall an instance of a client who runs a successful cosmetic company. Her business received a complaint on its facebook page from a person who had bought skincare products from another company with the same name.
We discovered that the infringing company had also applied to register the trade mark with IP Australia.
But it was only once a complaint had been made on my client's public facebook that the infringing use and subsequent trade mark application was discovered. It became apparent that other customers were confused about the infringing brand.
Because we found out about it, we were able to send a cease and desist letter and stop the infringing trade mark from becoming registered.
This story shows how easily trade mark infringement can go unnoticed without a trade mark monitoring service.
The Cost of Ignoring Trade Mark Monitoring
Trade mark infringement can lead to loss of sales, brand confusion, and can end up costing you a lot of money in legal fees if the issue escalates.
Moreover, continued unnoticed infringement can erode the unique identity of your brand.
The case of my client in the cosmetic industry shows how critical timely detection of infringement is to prevent high legal costs, potential financial loss and damage to brand reputation.
The Benefits of Trade Mark Monitoring
By actively monitoring your trade mark, you're effectively maintaining a watchful eye on your market.
Trade mark monitoring can help you identify potential infringement quickly, allowing you to take timely and appropriate action.
One of my clients, who owns a software start-up, can attest to this. Through active trade mark monitoring, we were able to catch a potential infringement early and before any damage had been done to his brand.
Early identification allowed my client to address the issue with a cease-and-desist letter, avoiding a more complex legal dispute.
Securing your trade mark through self-filing is a commendable first step in protecting the identity of your business.
But safeguarding your trade mark doesn't stop there.
The continuous monitoring of your trade mark isn't just a protective measure; it's a strategic move that ensures the preservation of your brand's unique value, reputation, and financial health.
Don't let your valuable trade mark remain vulnerable. Be proactive.
Subscribing to a trade mark monitoring service can mean the difference between business success or facing avoidable setbacks.
If you're ready to take the next step in safeguarding your trade mark, we have something that will help!
We've put together a comprehensive guide, "How to Protect Your Trade Mark After Registration".
Download this free guide today to gain insights and actionable steps to protect your trade mark.
We're here to help you protect what you've worked so hard to build.
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