At the bare minimum, you should consider registering your company name as trademark. After all, this is how your customers remember your business. Do not let other people hijack your business goodwill.
As a business owner, more often than not, you insure your business assets such as vehicle, building and plant. They are undoubtedly vital to your business and you cannot afford to lose any of those assets.
However, due to the intangible nature of trademark, many tend to overlook the importance of securing their trademark. Just like your business assets, your trademark is valuable and sometime significantly more valuable than you can imagine.
In 2020, it was reported that a subsidiary company of Fraser & Neave Holdings Bhd announced that they sold its 'Tea Pot' trademark for RM83.17 million after having bought it for approximately RM75 million a few months back.
This shows that through accumulation of goodwill, your trademark can be very valuable as well. Never underestimate the value of your trademark!
If you are prepared to fork out significant sum of insurance premium to protect your physical assets, you should seriously consider to invest a small sum to get your trademark registered.
Trademark registration is not going to burn a hole in your pocket. The main components of registration of trademark are official fee (payable to MyIPO) and professional fee for hiring agent to handle your application. The cost is one off payable during application stage. This is probably a fraction of the insurance premium you are paying for one of your assets. Trademark registration is also low in maintenance cost because the registration is renewable only every 10 years.
With the rise of e-commerce, it is certain that the value and importance of trademark will only surge in the future. At the bare minimum, you should consider registering your company name as trademark. After all, this is how your customers remember your business. Do not let other people hijack your business goodwill.
We have been assisting multinational companies, SMEs and individuals in trademark related matters for more than a decade. Please click on the button and get a quote for consultation.
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