Why Does Your Business Need A Trademark?

In Singapore, trademarks are governed by the Trade Marks Act 2004. In this article we share with you why does your business need a trademark. 

The Singapore Trade Marks Act governs the registration of trademarks. Trademarks are registered to identify the source of goods or services. The Singapore Trade Marks Act defines what is not registrable as a trademark, which includes “any mark consisting exclusively of signs which are so nearly resembling any other trademark in respect of which there is a well-known trade connection in Singapore concerning goods and services in respect of which such well-known trade connection exists”. 

What is the definition of a trademark in Singapore?

A trademark in Singapore is defined as a “sign which is capable of being represented graphically and is capable of distinguishing goods and services in respect of which the trademark is registered from goods and services in respect of which it is not so registered.”

There is no minimum term for trademarks. The duration of registration depends on whether the trademark is registered as a wordmark or an image mark. A word mark need to be renewed after seven years. A trademark consisting only of an image needs to be renewed every five years, while a trademark composed of both words and pictures needs to be renewed every ten years.

A trademark is a sign of uniqueness and distinctiveness that identifies your company from others in the market. You can also use trademarks to indicate the source of goods and services you sell without having to say it right on the product itself. A trademark is something that allows your brand to stand out from all the rest!

The benefits of having a trademark

The benefits of having a trademark for your business are as follows:

– A trademark is an indication that you own the rights to use certain words, phrases, logos or designs, which helps you identify your goods and services from others in the market.

– Trademarking a name is a way of securing it for exclusive use.

– It prevents other companies from using the same trademark without permission.

– Trademarking a name allows you to enter into licensing agreements with other parties. If they continue to manufacture under your trademark, they have to pay you royalties on any earnings.

– It will give your company a worldwide presence if you have your trademark registered in many countries.

– A trademark may also function as security to keep other parties from filing their own trademark application for the same name. In the event of any legal dispute, having a registered trademark can help prove that your company was using it before anyone else and

How to register your trademark in Singapore

All business entities that intend to use a trademark need to apply for a trademark before the Trade Mark Office (TM). You can do this by filling in an application form and paying a fee. If no one objects, the TM will register the trademark.

For a more detailed explanation of the process, you can refer to our earlier post, where we share how to register a trademark for your Singapore business.

You should register your trademark as soon as possible because you don’t want someone else to beat you to it!

If you are serious about your product and services, you should consider registering your trademark as soon as possible. This is to prevent the unfortunate event of someone else registering a trademark that is too similar to yours.

Remember, trademark registration is not a must for you to use your trademark. It is to also prevent others from using them without permission or claiming ownership of your brand name.

If you need assistance, get in touch with the Intellectual Property Office of Singapore (IPOS) or Trademark Registration Singapore. 

If you are looking to protect your brand name or logo, then it is imperative that you register for a trademark. Registering will give you legal protection and ownership rights over your company’s intellectual property (IP). A branded product can be an excellent way of promoting your business as well as building customer loyalty. With so many benefits on offer, there really isn’t any reason not to obtain one… unless you don’t know how! You may want to contact our team today if this sounds like something worth exploring further.

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