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Trademark Ignorance Places Businesses At Risk
Listed under: News
Published: Thursday, January 28, 2010
Up to 78% of retailers in the UK are currently putting their livelihoods at risk by failing to register their names as trade marks, according to a recent report from trade mark specialist, trademarkdirect.co.uk.
The survey reveals that approximately 31% of British business owners have not registered their names or brands as a trade mark, with many saying they feel it is not of sufficient enough importance for them to take action.
However, the company behind the report has warned that retailers could be putting their businesses and reputations at huge risk by not taking the necessary steps to trade mark their names, with companies who have failed to protect themselves at risk of losing their titles to competing organisations.
The findings reveal that the biggest reason behind many people's inaction is a lack of time, accounting for approximately 31% of all responses received. Confusion regarding where to go for advice and financial concerns were also popular responses, amounting for 10% and 31% of the answers respectively.
Despite the negative findings, the survey did highlight some positive points, revealing that a whopping 84% of businesses had established their brands online by purchasing an internet domain name for their company and brand. However, only 22% had gone the whole way and taken the necessary steps to trade mark their name.
Commenting on the report, Mark Kingsley-Williams, director of Trade Mark Direct, says, “This research highlights the common misconceptions about trade marks that many retail and fashion businesses share. What’s concerning is that so few companies in these industries realise how important getting the right protection for their name or logo is.”
For more information on applying for a trade mark go to http://www.trademarkdirect.co.uk
The survey reveals that approximately 31% of British business owners have not registered their names or brands as a trade mark, with many saying they feel it is not of sufficient enough importance for them to take action.
However, the company behind the report has warned that retailers could be putting their businesses and reputations at huge risk by not taking the necessary steps to trade mark their names, with companies who have failed to protect themselves at risk of losing their titles to competing organisations.
The findings reveal that the biggest reason behind many people's inaction is a lack of time, accounting for approximately 31% of all responses received. Confusion regarding where to go for advice and financial concerns were also popular responses, amounting for 10% and 31% of the answers respectively.
Despite the negative findings, the survey did highlight some positive points, revealing that a whopping 84% of businesses had established their brands online by purchasing an internet domain name for their company and brand. However, only 22% had gone the whole way and taken the necessary steps to trade mark their name.
Commenting on the report, Mark Kingsley-Williams, director of Trade Mark Direct, says, “This research highlights the common misconceptions about trade marks that many retail and fashion businesses share. What’s concerning is that so few companies in these industries realise how important getting the right protection for their name or logo is.”
For more information on applying for a trade mark go to http://www.trademarkdirect.co.uk
