For a business to operate legally and securely, they must comply with the necessary business registration requirements and be listed in several government institutions such as the Intellectual Property Office (IPO)—the agency that facilitates trademark registration in the Philippines.
According to the IPO, a trademark refers to “both trademark and service mark, although a service mark is used to identify those marks used for services only.” Simply put, a word or group of words, sign, symbol, logo, or a combination of these can all make for a trademark.
The right to a trademark is given by the IPO to the first one who files the application and serves as your trademark protection within the Philippines only.
However, doing so can provide you other significant benefits. Read on the listed items below to find out.
Benefits from Registering Trademark with IPO
Builds Identity and Branding
Having a trademark sets your business apart from others, as consumers can differentiate your products and services from your competitors. Just seeing your logo, for instance, would help people instantly recognize which business it is they’re seeing.
This is especially helpful when you’re just a small business and still in the process of building your brand. Aside from using your trademark to mark your store, you can use it for your marketing campaigns and promotional materials to create awareness about your business.
A trademark develops an intrinsic value over time as the business grows and becomes successful. In fact, it can become the most valuable asset of any business.
Registering a trademark gives you an exclusive right to use the mark while preventing others to use the same or similar marks. Conversely, you earn revenues for licensing others to use your mark through franchising agreements.
Having a licensed trademark is also something that investors look at for security reasons before they decide to fully invest in your business.
Serves as Protection
By not registering your trademark, you run the risk of unauthorized parties using it without your permission. This can not only damage your brand and reputation but your entire business as well.
Registering your trademark gives your business an extra layer of protection from those who’ll try to benefit from all the hard work you’ve put into building your brand and reputation.
Gives Legal Rights
Should anyone try to imitate you by using your trademark, you can avail of civil or criminal actions or even administrative actions from the Bureau of Legal Affairs of the IPO—only if you’re the registered owner of the trademark.
Not having your trademark registered puts you in a frail position to fight for rights that should have been yours.
Trademark registration is, therefore, essential if you want to protect your business in the Philippines. If you haven’t registered yet, do so as soon as possible before somebody else beats you to it.