1. Australia has a sizeable revenue stream and steady economy.
The Australian economy has grown at a healthy pace for nearly three decades.[1] In 2019, Australia was ranked the 4th wealthiest nation in terms of median wealth per adult head.[2] Despite Australia comprising only 0.3% of the world’s population, its economy was expected to be the 14th largest economy in the world.[3]
We also note that the consumer spending of Australians is relatively high.[4] Even with the current global COVID-19 pandemic, Australians are shopping online more than ever before. Eight weeks following the World Health Organisation’s announcement, the eCommerce industry grew 80%.[5] With many Australian consumers now purchasing products and/or services from the internet, foreign businesses should consider nurturing and strengthening their brand presence in Australia.
2. Australia has a diverse consumer market.
Australia is a multicultural nation with more than 170 different nationalities whose diversity is continually evolving. This means there is a broad range of tastes and wealth of opportunities for small and large businesses.
3. Expanding your business to another location.
Protecting your brand should be an important part of any business’ expansion strategy. Given today’s global nature of business, you should ensure the protection of your business’ brand and good will on a global level. Trade mark registration provides you the protection over your business’ brand identity in the marketplace, particularly in relation to business names, logos, product names, slogans and various other distinguishing aspects of your business.
Registering your trade mark with the Australian Trade Mark Office will provide you with a nationwide exclusive right to use of the mark on your goods and/or services. If you do not register your trade mark, you may be restricting your trade mark rights to a limited geographic area that may prevent you from growing your business.
Need help with filing a trade mark in Australia?
FAL Lawyers is well-placed to assist you with filing trade marks in Australia, developing a strong brand identity, and managing your IP portfolio. For further information, please do not hesitate to contact us.
[1] Department of Foreign Affairs and Trade (December 2019), Australia is a top 20 country, https://www.dfat.gov.au/trade/resources/publications/Pages/australia-is-a-top-20-country.
[2] Credit Suisse (October 2019), Global Wealth Report 2019, page 8.
[3] Australia Trade and Investment Commission (2020), Why Australia? Robust Economy, https://www.austrade.gov.au/International/Invest/Why-Australia/robust-economy.
[4] Trading Economics, Australian Consumer Spending, https://tradingeconomics.com/australia/consumer-spending (accessed 30 July 2020).
[5] Australia Post (30 April 2020), Inside Australian Online Shopping: 2020 eCommerce Industry Report, page 5.
