What is a Trademark?
Trademarks are intellectual property that can take the form of symbols, words, phrases, or logos, which a company uses to differentiate its products or services from the rest. A trademark represents a business, and it protects everything that stands for the business, such as the company name, its services or products, merchandise, or anything and everything that belongs to the company.
When trademarks are violated, there are legal consequences. That is why trademarks are one of the first things a business applies for when starting since it acts as a safeguard for business assets.
How is a Trademark Identified?
Two symbols are commonly used to identify trademarks. ®, when attached to a logo, word, or phrase, means that it has a valid trademark registration and cannot be used by anyone else except the owner of the trademark license. ™ means that it is an identifier for the products and services of the business. However, it is not protected by trademark laws since it is not registered. Thus, it can be used by any person or company.
Trademark Application and Why it is Important
In Singapore, several companies help businesses with trademark applications. Not only that, but they also offer auditing and accounting services, taxes, and even company registrations. They also answer questions on how much is trademark application in Singapore. These companies help budding businesses realize why having a trademark is essential. Here are some reasons that they give to ensure that all new businesses get their trademark registered.
1. Branding – Having a registered trademark prevents other businesses from using your products or offering your services without your permission. Aside from that, a trademark will help your business get recognized in the market.
2. Quality Assurance – Your business trademark assures that only you can give quality products or services to your clients and customers. It also means that your business is recognized by the IPOS (Intellectual Property Office of Singapore) and has given you the seal of approval for the quality you offer.
3. International Legal Protection – In Singapore, all businesses are competitive. Having a trademark ensures that you are protected in and outside of Singapore since anyone, even foreign companies, cannot infringe your business’ intellectual property.
4. Legal Rights – If someone else or another business uses your name, product, or service without your permission, your trademark allows you to file infringement cases against them.
How Much is Trademark Application in Singapore?
There are three ballpark figures for trademark applications in Singapore, and those depend on whether you file online or manually.
For online trademark applications of class specifications that are fully adopted from the database, the cost is S$240. For not fully adopted class specifications, the fee is S$341, depending on the class basis. For manual filing, the price is S$374, which is per mark, per class.
So, how much is trademark application in Singapore depending on the type of filing and class specifications? Relatively cheap, compared to the legal fees you’re going to have to pay when you register and sell your goods and services without a trademark, and you get in trouble with another company or entity.