We happily announce that on 15/1/2021 CRYPTOWATER succeeded to register trademark CRYPTOWATER and logo at EUROPEAN UNION INTELECTUAL PROPERTY OFFICE.
This is a big milestone for the project and the first step to arrange all legal things which are needed to successfully start the development of the project.
From now on trademark, logo, and everything else is protected and secured.
Are you wondering if it is necessary to register your trademark?
Registering a trademark is much more important and necessary than is usually thought. Companies, especially SMEs and newly incorporated firms, tend to forget about registering their own trademark. One of the main reasons is the common misconception that registering the company in the trade register, or even just securing a domain name, would be enough to prevent competitors from using the same name. Furthermore, many companies consider the registration as a cost that can be postponed – until something gets wrong. Just a few consider the trademark registration as an investment, that is relatively cheap compared to the strong degree of protection it offers to companies’ most valuable asset: their brand. (in our case CRYPTOWATER)
4 advantages of registering your trademark
- Registration is necessary to prevent someone else – most likely a competitor – from registering the same name and inhibiting you from using it. The business costs of having to remove your mark from your website, promotional material and packaging could be enormous. Moreover, using someone else’s registered trademark would entitle the other party in issuing a claim for damages against you.
- Secondly, you may want to register to prevent a counterfeiter from using your mark – if your company has a strong brand, counterfeiters will probably want to copy it. If you don’t register your trademark, it may be difficult for you to prove that, you are the legitimate owner, and in any case, it is going to be extremely time-consuming. Trademark registration is the quickest way to obtain preliminary injunctions from the courts, and recover damages later on.
- Registration is the only way to prevent your company from unconsciously infringing the other company’s rights. You may not realize that the mark you’ve been using is already registered. What could be the consequences? Having to rebrand, bearing the costs of new promotional materials, and being sued for trademark infringement by a competitor.
- There are significant financial incentives to register your trademark. A trademark is an asset that has monetary value. It can be bought, sold or licensed and you can demand royalties for exploitation to your licensee, for instance, a distributor.
A trademark is one of the most important assets of your company: registration is the necessary investment to protect it.
If you need help registering your trademark or intellectual property do not hesitate to contact GrlicaLaw. They will help you create a necessary long-term strategy for protecting your intellectual property, and also help you register trademarks and patents in Slovenia, EU or USA.
Their legal specialists for dispute resolution have extensive experience with taking action against third party infringements of your intellectual property.