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Registered tade marks have several attractive features. When you get a trade mark registered, it obtains additional features that can make it considerably more valuable. |
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FEATURE |
Registered Trade Mark ISSUES |
Registered Trade Mark RIGHTS |
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To be registrable, a trade mark must meet certain requirements under the Trade Marks law. |
Some of the reasons a trade mark may not be approved for registration include: -
So when a new trade mark is registered in Ireland, it must be approved by the regulatory bodies in terms of meeting the requirements of the Trade Marks Act, 1996. It must meet the tests for distinctiveness in order to become registered. |
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The nature of a registered trade mark is personal property. |
Once registered, you as
owner, hold an exclusive right to use the registered trade-mark in Ireland (or the country where registration is granted). |
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When buying or selling a business, considerable value can be attached to registered brands. |
Registered trade marks often form the basis for which goodwill is payable between businesses when there is an acquisition or merger. For example even when the chain of computer shops, COMPUSTORE, went into liquidation, its registered trade marks reportedly were sold for €200,000. If these were designated as a capital asset, then capital gains tax could apply (currently 20% in Ireland) or the asset may qualify for business relief in a family business disposal (please consult your tax advisers). |
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Usually a registered trade mark contains an identity or signature which makes it distinctive in respect of the goods and services involved. It can include the shape of the goods/services or its packaging. |
For example, the JIF lemon container and the Coca-Cola bottle are now registered trade marks under the relevant legislation. Or more simply, BOOTS for chemists, or even fictional characters like Winnie the Pooh can be registered trade marks to the substantial advantage of their owners. |
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The registered trade mark itself can be sold or assigned to other parties. This can be particularly valuable when selling on a business, and may have attractions from a capital asset or taxation point of view. |
The ownership title in registered trade marks can be recorded, just like property. Registered trade marks can be bought, sold, licensed, assigned, and conveyed like a factory. They can even be mortgaged. |
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The publishers of Buy and Sell magazine successfully sought to protect its brand and market position. A competitor proposed to launch another publication called Mayo Buy and Sell. |
With a view to protecting its extremely valuable goodwill and reputation in the Buy and Sell brand, the plaintiff had two registered trademarks. The High Court granted the owners of the registered trade mark an injunction restraining the new publication. [5 March 2004]. |
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Because a registered trade mark is a property right, infringement of registered trade marks is taken very seriously by the courts. The onus of proof tends to lie on any imitator of a registered trade mark. |
The protection granted can be considerable. When infringement happens, the remedies available to a holder of a registered trade mark can include damages, prevention of trade using an infringing brand, and an injunction preventing use of an infringed brand. |
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The identification of goods and recitation of services for a registered trade mark are determined according to the Nice classification of goods/services. |
The extent of protection afforded to a regsitered trade mark depends on the range of goods and services that are listed in the registration. Under trade marks laws, there are certain conditions to be fulfilled to maintain a registration. |
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A registered trade mark can be renewed or extended every ten years subject to payment of renewal fees. |
So if you wish to keep the protection extended over a prolonged period, this is a feature of registered trade marks. |
Last update: 20 December 2006
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