INTRODUCTION
Trademark is one of the components of intellectual property. It’s not necessarily the logo. It may also consist of names, pictures, letters, numbers or combination of that element. Trademarks are used to identify and distinguish a product or service in the same category. In Malaysia, the Intellectual Property Corporation of Malaysia (MyIPO) is the body responsible for managing all matters relating to patents, trademarks, copyrights and so on. Some of the importance of registering your business trademark is:
- Exclusive Rights– Registered trademarks owners have exclusive right to use their marks in trading. They also have the rights to take legal action for infringement under the Trade Mark Law against others who use their marks without consent. They can either take civil action or lodge complaints to Enforcement Division for appropriate actions under the Trade Description Act 1972.
- Legal Evidence– Registration certificate issued by Registrar Office is a prima facie evidence of trademark ownership. A certificate of registration serves as an important document to establish the ownership of goods exported to other countries. Registered trademarks will be secured under the Trademark Act 1976, free from any threats involving trademark.
- Protection – Protecting their intellectual property so that their rights are more assured as the owner of the product and also to ensure that no party abuses, steals or imitates their ideas and products arbitrarily.
- Assignment/ “franchise” – Trademark registration is valid for ten (10) years from the date of registration but is renewable. The registration of trademarks remains as long as they are renewed every 10 years. Trademarks may also be assigned/licensed through assignment applications that can be applied at MyIPO. Highly reputable trademarks are able to increase the value of the trademark while also benefiting trademark owners. Trademark owners have the option of licensing or assigning trademark ownership with high rewards. For example, Disney licenses their trademark to another company to produce souvenir products. The Disney will receive royalties as a result of the licensed trademark.
- Honor & Recognition – This trademark registration can create awareness for the general public to respect and recognize the creation of others as it is not easy for the creator to produce a brand or product.