5 ways to cut cost when registering your trademark

After setting up your business, getting your logo, and coming up with your company name, what’s next? Considered protecting your intellectual property (IP) yet? There are some ways to get started with protecting your IP. We should aim to spend the least amount of money to get the maximum protection. Read on for tips on saving cost when registering for your own trademark.

1. Keep calm and do research

Yes, it is time to exercise your research muscles. Has your desired trademark already been taken? You can find out by searching the internet and trademark databases. Next, identify the location of your customer base and investigate matters pertaining to trademark recognition.

Don’t forget to familiarize yourself with the Intellectual Property Corporation of Malaysia (MyIPO) and Intellectual Property Office of Singapore (IPOS) if you’re in Malaysia or Singapore. Study the procedures involved and budget adequately. You can bet your bottom dollar that research done in advance will save you a lot of trouble later.

2. Consult the right people

Experienced intellectual property (IP) lawyers and trademark agents can be of invaluable help as they have greater access to trademark databases and are able to conduct comprehensive searches. Their experience also comes in handy to steer you away from expensive errors applicants often make.

3. Only register the necessary

Each trademark application costs a fair sum. You do not need to trademark every minute detail of your business, like your furniture arrangement or the smell of your office. A business is primarily known by its name and logo, but if you have to choose between the two, go for registering the name. Seek your IP experts’ advice on the best filing strategy for your business.

4. Get a discount

If you plan to register more than one trademark, try to complete the applications at the same time and cut a deal with your IP agent for a discounted fee. Don’t miss out on getting a good bargain.

5. Pick a distinctive trademark

Originality is key. One sure way to get your application objected by the registrar is to attempt registration of a common word. Application fees are non-refundable, so avoid common words like the plague. Instead, choose something one-of-a-kind, something you would be proud to say in 50 years, “yeah, that’s my brand!” Take your time and think outside the box.

Trademarks are a form of basic protection we can invest in. We should always consider it as a matter of when, not if.

This article was originally published in LIPMedia.co. Legal IP Media (LIPMedia.co) is a digital publication revolving around Intellectual Property focused in Southeast Asia.