A company’s most valuable asset: their trademark

 

By Bhavisha Parekh

Intellectual property law relating to trademarks emerged approximately 200 years ago, when merchants came to realise that there was commercial value in obtaining exclusive rights over a product they had created or their company/product name. Since then trademarks have become an important factor within any company.

Due to this entwinement between a company and intellectual property law, trademark issues within a company have generally been filed into different departments within a company, as they are unsure of who should deal with the trademarks.

For the most part, trademarks are dealt with by the marketing team of a company as trademarks are seen as a form of commercial communication. Trademarks have also been dealt with by the financial department of a company as they can also be seen as an expense rather than an asset which in the long term is very beneficial to the organisation.

Failing to see the long term benefits of trademarks and not dealing with them in the correct manor can lead to little or no attention to the circumstances by which the trademark can be used, its brand equity and how enforcement would work. Filing the trademark away as an expense would also not allow the company to allocate any funding for any trademark clearance or future legal action in case the trademark is infringed. Further, there would be little strategic planning of how a trademark would fit within the organisation.

Due to these blunders, sooner or later specialist intellectual property solicitors will likely find themselves working with a company to try and put right the previous errors. In the absence of specialist legal advice, companies may not realise that their trademark has been infringed, or upon realising so, they may become stumped when furthering realising that they have adequately covered protected their trademark due to lack of knowledge when filing the trademark application.

It all comes down to how important a company views their trademarks and whether the company's goal is to sell its technology rather than to establish a continuing commercial presence in the marketplace.

To get some specialist trademark law assistance now, call Caven0808 1497 870 and speak to one of our trained advisors.

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