Deciding a name for your business and building a brand name sounds fun and exciting. It is really important to have all the right resources and information to begin with the process. A minor mistake might result in a lawsuit against your company such as trademark infringement.
People are always confused about the concept of Company Name and Trademark. It is two different things. Listed below are the major differences between the Company name and the Trademark.
A Company name is the legal name of a corporation that appears on basically all the contracts and paperwork related to the business. People could choose a company name in form of a numbered name or a word name as long as it meets legal requirements.
Registration of a company name begins with reserving the proposed name. The Registry Office reviews the proposed name and gets back with the result. In the case of provincial incorporation, the process will take 5 business days typically.
The Registry Office performs a review on the proposed name. It is important to do the search to find out if the name that you have chosen is not the same, or similar to, an existing registration.
If there are any similarities, the office rejects the proposed name. The applicant has to change the company name or get consent from the existing similar name owner.
It is very important to understand that even if you registered a company name, it does not mean that you have registered it as your trademark. Also, it does not mean that other people could not use it as a trademark.
A trademark identifies and distinguishes the products and services of a business from another brand or business. The registry is in Intellectual Property Office and is protected by the Intellectual Property rights.
On the other hand, a company name or business name represents a business itself. The registration under the Registry Office and The Canada Revenue Agency. The company name is regulated by the Business Corporations Act.
Trademark could be in the form of a symbol, word, image, letter or a combination of all. Registration is not mandatory for trademark execution. However, doing so gives the owner more rights and more protection.
To register a trademark, the major step is to look for a unique and distinctive trademark. It is important to conduct a trademark search before using a proposed trademark as if it matches an existing one, it might result in rejection of the application.
To conduct a trademark search or register a trademark, is a good way to hire a trademark consultant. You no need to deal with the complicated regulations and procedures. Owing to the business development, you will need to extend the trademark register to different classifications or Countries. Every country’s Intellectual Property Regulations are different. An all-rounded consultant could help to ensure the business develops smoothly.
If no similarities with other businesses are found at this point, the trademark is sent to the Intellectual Property Office for further process. Usually, the process takes around 18 months (in Canada) and in the meantime, you follow through with them.