As you guys know, I’ve been watching a bit of Shark Tank recently. I recently wrote about it on this blog. Shark Tank is a reality television show about entrepreneurs, who are given the chance to pitch their business ideas to a group of investors (“Sharks”), in the hope that a Shark would bite on their idea and perhaps, invest in the entrepreneur. Shark Tank airs on Channel Ten on Sundays, at 7:30PM.
Episode 13 featured a number of interesting and enthusiastic entrepreneurs, but the one that caught my eye was two podiatrists who had invented an easy-to-customise orthopedic product and branded it “Synxsole“. Their product caught the attention of the Sharks, and soon three Sharks were bidding to be a part of their business.
One of the things that caught my attention was the foresight that the two entrepreneurs exhibited. They had, through their experience, identified a gap in the market for orthopedic soles, and after inventing their product, immediately applied for trade mark, patent, and design protection in not only one, but in multiple countries.
An expensive exercise for sure – but something that again, shows foresight. We have previously written that Trade Mark registration will grant you protection within Australia for a period of ten years – but in this day and age, products are not just sold within Australia, but all across the globe.
This means that if you intend to sell your product in the United States of America, it would be best to also seek for trade mark protection within the United States of America – or else a competitor in the United States of America might end up copying your branding!
Fortunately, just like Synxsole did, you too can register your Trade Mark in an overseas jurisdiction. Australia is a party to the Madrid Protocol, a one stop solution for registering and managing trade marks worldwide. You would still need to identify which countries that you wish to register your trade mark in, and the cost does increase the more countries you register your trade mark in.
If you have a brilliant and distinctive mark that requires trade mark protection in Australia and abroad, give us a call, and we’ll help you with the process.