Did not renew your trademark? Then there are high chances of facing these 7 risks if you are late in your trademark renewal.
It is a well-known fact that logos and trademarks are important for a company. They are the first thing recognized by the customers. As per the rules, the period of safety for registered trade symbols is 10 years. At the end of every tenure, it has to be renewed. This blog discusses late trademark renewal and the risks associated with it in detail.
1) Someone Else May Take the Trademark
Business is all about competition, and there are high chances that someone may use your trademark if it is not renewed within the due date. It may occur in rare circumstances. However, it is possible since the trademark renewal is pending. The opponent can register the trademark. It becomes feasible if no other aspects of pre-existing liberties are found within the competitor’s registration.
2) Trademark Re-Registration May Not Be Allowed
It is a major risk if the trademark is not renewed within the due date. In the meantime, if an identical logo is registered by a competitor you may lose your original logo forever. As per European Union Intellectual Property Office(EUIPO) guidelines, a mark will be rejected if it is similar to an already registered trademark symbol.
Despite having no issues while registering the design logo or trademark the first time, if a problem arises after passing the date of renewal then the rights to re-register the mark will be denied completely.
3) Limited Classes
Say that initially, you have registered your logo in a higher class. If you have surpassed your renewal date and in the meantime, someone has registered a similar logo in the same class then you will not be allowed to register in the same class.
As per EUIPO regulations, the registration of a mark that is similar to an already existing mark for a particular business is prohibited. So if you cross your trademark registration renewal online period it may reduce your chances to register your trademark in the same class that you have previously registered.
4) Limited Countries
If the renewal date has been crossed in multiple countries and in the meantime similar or comparable trademarks have been registered in these countries. It drastically reduces the ability to re-register your present trademark in those countries.
It may be a major hurdle for your business, and in some cases, you may not be allowed to continue your business under an expired trademark. You will be asked to register a new one immediately to continue the business in the country.
5) Agreements With Competitors
If the business owner is under the potential threats as discussed above he can maximise the protection of The trademark by agreeing with the competitor. Such agreements would like to attain a complete balance between enhancing the ability of the opponent’s symbols for money.
Practically speaking, such deals are very expensive and close to impossible. But we cannot strike out this possibility completely. So definitely this is a hurdle and a high potential risk faced by business owners who fail to renew their trademark within the given period.
6) Late Trademark Renewal Fees
The business owners who have missed renewing their trademark will be subjected to additional payments like late payment charges. However, as per the rules and regulations the national IP officers provide a predefined grace period of 6 months within which the business owners are expected to renew their trademark. It is highly recommended to renew the trademark within the provided time frame. It will avoid unwanted late fees.
7) Additional Agent Fees
If an owner happens to miss the renewal date there is a high chance that other competitors may have registered a trademark with or without a serious intention. In this case, the owner might require legal assistance. Apart from late fee charges and charges involved in drafting agreements the owners should also pay for legal assistance. All these additional agent fees failing to document their renewal of trademark within the period will burn a hole in their pocket
Documents Required for Trademark Renewal
- Copy of registration certificate
- Photo-id and address proof of the applicant
- Copy of the application from the trademark registration form TM-A
- A lawyer to represent the application.
How Vakilsearch Can Help in Trademark Renewal
Vakilsearch can help you out in renewing your trademark immediately. As soon as you pass on the details, our expert team will get in touch with you. If you want your trademark to be renewed you will have to pay the government fees of ₹5000, and in the case of trademark restoration, it is ₹8000.
Lawyers at Vakilsearch will start working on a trademark renewal application after preparing all the documents. We will file Form 10 or Form 12 with the registrar along with the renewal fees and keep you updated regarding the status of your application. Within 4 to 5 months, the trademark renewal confirmation will be provided.
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