Everything you need to know about trade marks for your business
Intellectual property. It’s a hot topic.
Why?
Because, in the globalised and ultra-connected world we live in, the intellectual property (IP) of individuals and businesses is increasingly at risk.
It’s not just famous cases like Ugg Boots that are making the news. Trade mark, patent and copyright infringements in general are on the rise – both from the work of unscrupulous individuals/organisations and through innocent breaches of IP.
In Australia, interest in protecting ideas through IP rights is increasing. In the latest figures available, trade mark applications grew by 14 per cent – the highest growth in a decade. Copyright and design applications also grew, indicating that innovation is alive and well in Australia.
To successfully commercialise this innovation, it needs to be protected by law.
What are you doing in your business to protect your IP and your ideas?
Trade marking your goods or services may be the best option for you. Here we look at the key questions to consider before deciding to apply for trade marks.
In considering these questions, you will become clearer on the reasons for applying for trade marks and the process you need to undertake to protect your business…
1. What is a trade mark?
A trade mark is used to uniquely identify a product or service and distinguish it from the offerings of competing traders.
This can take many forms including:
- A symbol or a number
- A letter, phrase, or word (in a particular font)
- A sound (such as a musical jingle)
- A shape, picture, or logo
- An aspect of product packaging
A trade mark is more than just a logo for your business (though a trade mark can be a logo). It covers you legally from someone trying to replicate the above aspects of your goods and services.
By registering a trade mark, you have the exclusive right to sell the product or service. You can also authorise others to use and sell it.
2. Does a trade mark last for life?
No. A trade mark must be renewed every 10 years to retain the exclusive rights to sell the product or service in question.
A trade mark registration can be renewed up to 12 months before the renewal date is due and no longer than six months after (in the latter case, extra fees will apply).
However, during this period you must demonstrate that you have actively used the trade mark – or the exclusive rights to use it may be rescinded by the Australian government.
3. Do all businesses need trade marks by law?
No. There is no requirement for a business to register any trade marks. It is NOT the same as a registered business name or registered company name, which all businesses must have.
However, if you want to protect the unique aspects of your business’s goods and services, you should consider trade marks.
For instance, just because you have a business name and have registered the domain name of a product, it does not prevent another business from using very similar details as you for a competing product or service.
4. What are the main benefits of trade marks?
While trade marks are different to brands, they can become an important part of your identity. For instance, what would Qantas be without the red and white kangaroo emblem on the tail of its planes?
This is a registered trade mark that is instantly recognised and helps promote Qantas services around the world.
Once you register a trade mark, other businesses must respect that you have exclusive rights to its use – or you have legal recourse to take action.
5. How do trade marks differ from copyrights, designs, and patents?
Intellectual property (IP) includes all inventions, literary and artistic works, designs, symbols, names, and images that are used to trade.
There are many ways of protecting this. Let’s look at the simple case of a pen:
A trade mark application may be for the name of the pen or the type of packaging used to distinguish it from other pens.
A patent for the pen might be for a particular type of pen with a new way to store its ink.
Industrial design protection may be sought for the pen’s new type of grip.
A copyright application is different again. This is sought to protect the IP of published or performed material. A copyright grants “the exclusive right to print, publish, perform, film, or record literary, artistic, or musical material or to authorize others to do so.”
6. What’s the difference between registered & unregistered trade marks?
You can use trade marks in one of two ways:
An unregistered trade mark – free to use but with restrictions; if someone has registered the same trade mark, they can take legal action against you. Using the ® trade mark symbol is an is an offence, though you can use TM to designate an unregistered trade mark.
A registered trade mark – you are legally allowed to use the ® symbol and nobody else is allowed to use the same trade mark; you can pursue legal action against them if they do so.
Note that there are some circumstances where even unregistered trade marks provide protection under law: for instance, if you have been using an unregistered trade mark for many years before someone else starts using it.
7. Are trade marks internationally binding?
Any trade mark registered in Australia covers only Australia. However, providing nobody has registered the trade mark that you want in another country, you can make an application for an international trademark.
This will protect you from overseas businesses using the names or other features of your goods and services.
Conversely, if you registered your trade mark overseas (but not in Australia) you are able to use ® to designate this, as long as you state the country of registration near to the symbol.
8. How do I apply for a trade mark in Australia?
To apply for an Australian trade mark, first decide if it’s actually a trade mark you need. They are commonly confused with design rights: mistakes with applications waste time and can be expensive as there are no refunds of fees.
If you are sure you need a trade mark, the next step is to start selecting the goods or services for which you intend to use your trade mark. Group them into one or more of the 45 categories available. You may need help doing this from a professional.
Before applying, ensure that the trade mark you want to apply for is available. Use the search facility on the official government site IP Australia to avoid wasting your time.
9. What happens after I submit my application?
Mistakes in applications for trade marks are common. Take the time to get it right before submitting yours. It will take around 3-4 months to assess.
If your application meets all of the requirements, it will be registered. You will receive written notification and it will appear in the Australian Official Journal of Trade Marks. It will also be visible in the search facility mentioned in the question 8.
10. What happened with Ugg Boots?
For Australians, there should be no greater warning about the dangers of not trade marking a product than the story of Ugg Boots.
As Aussies, we all love our Uggs. These sheepskin shoes and boots have been made for decades by a family-run business called Luda Production and we all know them as “Ugg Boots.”
However, the trade mark for Ugg Boots is held by the American sheepskin company Deckers Outdoor Corporation. They registered it in over 130 countries.
Consequently, the company challenged the use of the name by Luda Production and any other companies around the world using it – even though the name was used in Australia for decades before the trade mark application was lodged!
This led to ongoing court action - with major headaches (not to mention costs) that could have been avoided.
Let this be a lesson to all Australian businesses to register trade marks that protect the unique characteristics (including the names) of their goods and services – before another company does.
Don’t be the next Ugg Boots. Do what other Australian institutions have done and protected their names and products/services – from Vegemite to Qantas and the Wallabies!
Speak to your legal representative or accountant for more information on registering a trade mark.
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When you're looking for ways to save money, it's easy to focus on the big expenses. But sometimes the easiest savings are sitting in the things you pay for every month without really thinking about them. Subscriptions, unused services and small recurring expenses can quietly add up over time. Here are five simple things worth checking. 1. Audit Your Subscriptions Start by looking at all the subscriptions you're currently paying for. Go through your Apple App Store or Google Play Store accounts and check what you're being charged for each month. You may find subscriptions you've forgotten about, apps you no longer use or services that are automatically renewing. Even a few dollars here and there can add up to a significant annual expense. 2. Cancel Services You Don't Use If you've paid for a service that you haven't used in the past month, ask yourself whether you really need it. Unused streaming services, apps, memberships and other recurring payments can continue taking money from your account long after you've stopped using them. Cancelling an unnecessary subscription is one of the easiest ways to stop the leakage. 3. Negotiate Better Deals If you've been with the same provider for a long time, don't assume you're already getting the best deal. It may be worth contacting your provider and asking whether there is a better plan or rate available. This could apply to a range of services where you're a long-term customer. A few minutes spent asking the question could result in ongoing savings. 4. Set Reminders for Renewals Free trials and annual subscriptions can be easy to forget about. Set a reminder for when a free trial ends or when a subscription is due to renew. That gives you the opportunity to decide whether you still want the service before you're charged again. Your calendar or phone can prompt you. 5. Track Your Spending Small expenses are easy to overlook when they're spread across multiple accounts and services. Using a budgeting app or regularly reviewing your transactions can help identify areas where you're spending more than you realise. You may discover recurring payments or habits that no longer represent good value. Small Changes Can Add Up Saving money doesn't always require a major lifestyle change. Sometimes it's simply about paying attention to where your money is going and cutting expenses you no longer need. The article provided makes the same point: regularly reviewing subscriptions and cutting back on unnecessary expenses can help build a stronger financial foundation. saving costs things to look at At Ascent Accountants, we can help you look at the bigger picture of your finances and identify opportunities to make your money work harder for you.
Finding a caveat on a property you're looking to buy can be an unwelcome surprise. A caveat can prevent certain dealings with a property from being registered, which can delay a sale or prevent a purchaser from settling until the issue has been dealt with. It can also create problems with finance because lenders generally require clear title. First, What Is a Caveat? A caveat is a legal notice recorded against a property. Importantly, a caveat may only be lodged by a person or entity with a legal or equitable proprietary interest in the land. It effectively acts as a statutory injunction, preventing the Registrar of Titles from registering certain dealings with the property, such as transfers, mortgages or leases, unless the caveat is withdrawn, removed by court order or otherwise lapses. caveat on properties Why Might a Caveat Be Lodged? There are several reasons why a caveat may be placed on a property. These can include securing a debt owed by the borrower, protecting a buyer's equitable interest in land under a contract of sale, or protecting an unregistered or equitable mortgage. A caveat can therefore indicate that another party has an interest in the property that needs to be resolved. How Can a Caveat Affect a Property Purchase? If you're buying a property with a caveat on the title, it can complicate the transaction. For example, the sale may be delayed or prevented from proceeding until the caveat has been dealt with. It can also affect finance. Lenders generally require clear title, so an unresolved caveat may make it difficult to obtain or finalise finance. What Should You Look Out For? If a caveat appears on a property, you're considering buying, don't simply assume it will disappear before settlement. Find out: Why the caveat has been lodged. Who has lodged it. What interest the caveator is claiming. Whether the caveat needs to be withdrawn or formally removed. Whether it could affect your ability to settle or obtain finance. The type of caveat matters too. The source material identifies different types, including absolute caveats, subject-to-claim caveats, caveats lodged after notice, improper dealing with caveats and registered proprietor's caveats. caveat on properties How Is a Caveat Removed? There are several possible ways of dealing with a caveat, depending on the circumstances. These can include withdrawal by the caveator, statutory removal or court resolution. A withdrawal generally needs to be signed by the caveator and lodged electronically where required. There is also a process for applying for removal under section 138B of the Transfer of Land Act 1893. caveat on properties The caveator has 21 days after being served with the relevant notice to act, although the Supreme Court may order an extension in some circumstances. Don't Let a Caveat Catch You by Surprise If you're buying or selling property, understanding what is recorded on the title is an important part of the process. An unexpected caveat doesn't necessarily mean a property deal can't proceed, but it does mean there is an issue that needs to be understood and dealt with. At Ascent Property Co, we can help you understand the financial implications of a property transaction and work alongside your legal advisers to help you make informed decisions.
Are you using the logbook method to claim car expenses? The ATO has been increasing its audit focus on car expense claims, with particular attention being paid to both whether logbooks meet the requirements, and if the business-use percentage has been calculated correctly. Here are eight common areas that could cause potential issues with your claim. 1. Keeping a logbook in the wrong income year A valid logbook must be kept in the first income year in which you use the logbook method to claim car expenses. After that, a new logbook is generally required every five years. If you're not sure whether your current logbook is still valid, it's worth checking before relying on it for your tax return. 2. Not keeping the logbook for the full 12 weeks A valid logbook needs to cover a continuous period of at least 12 weeks. The 12-week period can cross from one income year into another, provided it includes part of the relevant income year. 3. Choosing your busiest 12 weeks It can be tempting to choose a 12-week period when you were doing more business driving than usual. But the business-use percentage from a 12-week logbook isn't automatically the percentage you can apply for the entire year. Your calculation needs to consider variations in how the car was used throughout the year. 4. Forgetting about a replacement car If you replace your car during the income year, you can't simply transfer your existing logbook to the new vehicle due to changes in usage. If you want to rely on the existing logbook for the replacement car, there are nomination requirements that need to be met. Otherwise, a new logbook may be required. 5. Writing vague descriptions of business trips The details matter. A logbook needs to record the relevant details of each business journey, including the dates, odometer readings, kilometres travelled and the purpose of the journey. Entries such as "business trip", "client visit" or "customer visit" may not be enough . The description should explain why the journey was made. 6. Reconstructing your logbook later Your logbook should be kept as you make the journeys, or as soon as possible afterwards. Inconsistent entries, duplicated dates, identical odometer readings or records that don't line up with other information can raise questions about whether the logbook was reconstructed from memory. 7. Getting business and private kilometres wrong Your business-use percentage needs to be based on a reasonable estimate of your business kilometres for the year. That means considering changes in your work, holidays, leave, changes in employment duties, changes in your work location and other variations in how the vehicle was used. 8. Forgetting your odometer records and receipts A logbook is only part of the record-keeping requirements. You also need odometer records for the relevant period, and car expenses such as registration, insurance and servicing generally need to be supported by appropriate records. What Should You Do? If you use the logbook method, don't assume that having a 12-week logbook automatically makes your claim correct and compliant. The ATO's increased scrutiny means it's important to make sure your logbook is valid, your entries are accurate and your business-use percentage reflects how the vehicle was used throughout the year. At Ascent Accountants, we can help you review your car expense records and make sure your logbook and business-use calculation meet the requirements before you claim.
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A new way to claim work-related expenses is coming for the 2027 tax return — but there is an important catch. From 1 July 2026, eligible taxpayers can claim a standard deduction of up to $1,000 for certain work-related expenses, without having to substantiate each expense individually. Sounds simple enough. But before you assume you can claim $1,000 on top of everything else, there are a few things you need to know. The $1,000 Is the Maximum The new standard deduction is capped at $1,000. It is designed to cover certain common work-related expenses, such as work-related phone and internet, home office expenses, stationery and some travel expenses. You can't claim the $1,000 and then claim those same expenses again separately. If you have actual work-related expenses of more than $1,000, you can continue to claim your actual expenses under the existing rules, provided you meet the requirements and have the records to support them. Do I Still Need to Keep My Receipts? Yes: and this is where it is worth being organised. If you use the standard deduction, you don't need to substantiate the individual expenses covered by it. But if you think your actual work-related expenses could be more than $1,000, keeping your receipts and records throughout the year will allow you to claim your actual expenses instead. There are also some deductions that aren't covered by the standard deduction and can still be claimed separately if you are eligible. It's for Your 2027 Tax Return The new deduction applies from the 2026–27 financial year, so you won't use it for the tax return you are preparing now. It will first apply to your 2027 tax return, lodged from July 2027. Is the $1,000 a $1,000 Tax Refund? No. The $1,000 is a deduction from your taxable income. It doesn't mean you'll receive an extra $1,000 back from the ATO. The value of the deduction will depend on your individual tax circumstances. What Should You Do Now? The best thing you can do is keep track of your work-related expenses throughout the 2026–27 financial year. When it comes time to prepare your 2027 tax return, we can look at your circumstances and determine whether the standard deduction or claiming your actual expenses is likely to give you the better outcome. At Ascent Accountants, we can help you make sense of the new rules and make sure you're claiming the deductions you're entitled to: without claiming the same expense twice!
