A trade mark is a sign that you can use to distinguish your business’ goods or services from those of other traders. It can be in the form of letters, words, names, signatures, numerals, devices (figurative elements), brands, headings, labels, tickets, shapes and colours, or any combination of these elements.
Types of Trade Marks
Some examples of the different types of trade marks are shown below.
Here are the benefits, term of protection and additional facts about trade marks.
Benefits
A trade mark can add value to your business. Using a trade mark can help customers easily identify and remember your products and services, allowing you to build customer loyalty and protect your market share.
With a registered trade mark, you will enjoy a monopoly over its use. You may:
1. Use the ® symbol next to your mark
2. Protect your market share by deterring others from using it
3. License it to third parties
4. Sell it for a sum
5. Use it to raise equity for business undertakings
Term of Protection
Once your trade mark is registered, it will be protected for 10 years from the date of filing. You may renew the registration upon its expiry.
The Symbols
The TM symbol and ® symbol should not be used interchangeably.
The TM symbol informs others that you are using the logo or name as a trade mark, but the mark may not be registered or protected under trade mark laws.
The use of the ® symbol is only allowed after the status of your trade mark has been updated as "Registered". The ® symbol indicates that the mark is protected under trade mark laws.
