11.01.2023
Setting up and starting a new business venture is an exciting period for a business however it brings with it a number of challenges. The two most important challenges that determine whether a business will be short-lived or not are having a sound financial strategy and legal protection. Having these two at check all throughout the business venture will ensure that the business will be a long-term success.
This blog post will help you take an informed decision to protect your business brand legally and this can be done by registering for a trademark.
What is a trademark (TM)?
A trademark gives businesses the freedom to operate and establish legal ownership of their brand.
What does a trademark cover?
Having a trademark for your brand means that you have exclusive rights for anything that identifies your brand from other brands such as the unique brand name, brand colours, images, patterns, shapes, packaging of goods or sounds.
Local or European trademark?
A business can register for a local trademark that covers brand identities in the Maltese islands. Being a member of the European Union, businesses registered in Malta can also opt for a European trademark. This will protect businesses on a European level, in all member states. It is an easier process rather than registering a trademark in various countries within the EU. Many businesses opt for a European trademark, and in fact, almost 135,000 trademarks are registered on a yearly basis with the European Union Intellectual Property Office (EUIPO).
Does a trademark last a lifetime?
With a trademark, a brand/business protection lasts for ten years, which can be renewed every ten years.
Can I sell a trademark?
Yes. A trademark can be sold. Otherwise, through a trademark licensing, one can give other entities permission to use your trademark.
How can I register a trade mark?
The Fairwinds Management Limited legal team is experienced in this sector and is ready to help your business safeguard its reputation on a legal level. For more information and assistance you can get in touch with the legal team on info@fairwindsmanagement.net. In the meantime, more information is available on our website: https://fairwindsmanagement.net/services/corporateservices/trademark/.
Fairwinds Management Limited is a MFSA licensed firm offering Business Solutions in Malta. As part of our services, we offer Accounting, Administration, Corporate and Legal solutions. Fairwinds Management also manages the brand Accounting Services. More information about us and our key services please visit our website. You may reach Fairwinds Management on +356 2704 0903 or info@fairwindsmanagement.net.
Article written by Ms Charlene Sciberras, B.A. (Hons), guest writer, a marketing and business administration specialist with a special focus on corporate, accounting, and legal matters.