Trade Mark Protect – A New Tool for Business
7 March 2018
Filing a trade mark always presents the opportunity for your business to come under attack.
Often your business image is established, you’ve paid for design, your website is up and running and only now do you have the spare capital to formalise your intellectual property.
With the trade mark ecosystem constantly evolving, the threat to your business is ever present, with a recent report from CompuMark indicating that 34% of businesses had been forced to change a brand name as a result of an opposition.
Traditionally in the Australian insurance landscape, protecting your trade mark against such attack meant the purchase of an expensive and far reaching policy beyond the needs and budget of the average business. In short, if you’re a small business, insuring your trade mark has never been an option.
More importantly, you could only insure your trade mark once it had made its way through the registration process, escaped unscathed and been stamped with a registered symbol.
All that has changed. IP Australia has appointed insurance broker BMS, in partnership with CFC to develop Trade Mark Protect, a legal expenses cover to help defend trade mark applicants through the opposition process and for the life time of the trade mark.
Griffith Hack is the preferred provider of legal advice for those using Trade Mark Protect. Griffith Hack’s Trade Mark Attorneys are experts in protecting trade mark rights and are highly ranked by leading IP publications.
The product is available at www.trademarkprotect.com.au.