Trademarks and their importance for business life

Trademarks and their importance for business life

May 29, 2013

If you are the happy owner of a small or medium business, you may very well have taken care to settle many issues in the life of the business, but you have neglected to protect one of the elements that make up its reputation - the trademark of the business.
The trademark is part of the branding, identified with the products and different from the rest of the products on the market. The law allows for trademark protection and, by doing so, the reputation of the business. A trademark trademark may be a logo, word, letters, pictures, charts, colors, the combination and more. When choosing the trademark we want to protect and submit for registration, it should be borne in mind that the more distinctive the mark is, relevant to the business, unique and different from everything in the market in which the business operates, the harder it will be to compete, register another similar mark, and yes, scope The protection afforded to it by the courts will be broader.

A registered trademark is an asset for all intents and purposes. It gives its owner rights whose purpose is to enable him to exercise his ownership by virtue of the record, he and only he, and in this way enjoy the proprietary property and its fruits. The value of this property can be very high. However, it should be borne in mind that these rights are limited in time and place. Their negligent registration, as well as the non-renewal of the registration, may soon make them publicly available, and as such lack any significant business value.

Registered trademarks may allow additional income capability whether through the granting of a license to use the mark by its owner, and even if they are sold in the future together or separately from the business. Properly registered trademarks significantly reduce the competitiveness of potential competitors seeking to make use of the business mark whether during parallel imports, marking on a website or when importing counterfeit products bearing the registered trademark. It should be noted that sometimes it is also possible to protect a trademark that has not been registered, but this protection is more complicated and more difficult to perform.
When we come to examine the right course of action in the matter of trademark management, we must place great emphasis on the needs of the business and the environment in which it exists among its various competitors. The legal aspect includes, among other things, the manner of registration of the mark, its protection, and to the extent that the nature of the business so requires, its registration in various countries around the world. Sometimes, the registration of the mark in the country that is a member of a regional convention may be sufficient for the purpose of protecting it in other countries that are members of the same convention. Such proper management, while emphasizing its legal aspect, may pave the way for the success of business products in today's competitive and changing market.

The increased technological development we are experiencing in the last decade regarding trademarks and copyrights requires the legislature to adapt itself legally to this development. Trademark law is complex and requires an in-depth knowledge of the field and the day-to-day changes in it. Also, registering the trademark in Israel does not give it protection outside of Israel. Therefore, before making a decision on the subject, it is advisable to consult a lawyer who is knowledgeable in the various updates in the field and will be able to assist in making the right and relevant decision even for medium and small businesses.