There are 3 main reasons on why you should register a trademark:
i. Prevent Others from Registering a Similar Trademark
Once your trademark has been registered, no one else will be allowed to register a mark in the same or related categories of goods or services that yours was registered in.
The trademark registrar, IPOS, may decline to register their mark if they make an attempt to do so. This implies that your mark may be safeguarded in this manner without your intervention.
ii. Easier to Enforce a Registered Trademark
By requesting an injunction from the court, the other party cannot use the trademark, which is known as trademark enforcement.
Additionally, you might be entitled to financial compensation for the infringer’s unauthorised use of your trademark if you experienced a loss or if they made money off of it.
A registered trademark is significantly simpler to enforce than an unregistered sign. With a registered trademark, all you typically need to do to stop others from using it in their products or services is to demonstrate that you have registered the mark, that the infringing mark is identical to or nearly identical to yours, and that the infringing mark is likely to confuse consumers.
However, if your sign is not protected by a trademark registration, you will need to establish the tort of passing off in order to stop others from using it. This requires you to demonstrate that your sign had built up business goodwill, that the individual who copied your sign had made a dishonest misrepresentation, and that you had incurred loss. It may be challenging to demonstrate these elements.
iii. Serves as a reliable justification for leasing or selling your sign
A sign may be bought outright or licensed to others for use in a franchise. This is true whether or not your sign has a trademark registration.
However, if your sign has been registered as a trademark, it will typically be simpler to lease or sell it. This is so that you can transfer ownership to the buyer formally by registering the transfer and, to some extent, verify that your mark does not infringe upon an already-existing trademark.
It could be challenging to demonstrate that you are the rightful owner of your sign or that you did not steal it from another company without registering it as a trademark. Thus, registering your trademark increases the buyer’s confidence that they will receive it.