A trademark is a type of intellectual property consisting of a recognizable mark, design or expression that distinguishes the products or services of one source from those of others. The services are commonly referred to as service marks or brand names. The owner of a trademark can be a singular, a business organization or a legal entity. A trademark can be searched on a package, voucher, label, product, or company property. It is said in other ways, then, the work of documenting a specific entity as a source of records or services.
A good classic should be easy to say and easy to remember, while still retaining its style and distinctive character. A consumer’s decision to rent goods or a business is heavily influenced by brand name, brand value and reputation. It is a valuable asset for any company as it eliminates competitors from using the same name or logo. In addition, our LegalTax team assists with magazine registration and associates visual parts of your products with your products to foster brand loyalty.
When we look for the Importance of Trademark Registration online, you need to know that If you want your company, brand, product or service to stand out from the crowd, you need to register your license. Registering your trademark ensures that no one can impersonate your product or service in the market. Removing the need to rebrand. Also, registering a trademark in India is important if you want to secure your intellectual property and save your rights. Every aspiring entrepreneur should be aware of the many benefits that trademark registration offers. That’s why Legal Tax is here to help you avoid the need to register your trademark and rebrand.
How important is Trademark Registration?
Let’s talk on The topic of Importance of Trademark Registration in India, By Registering your Trademark/logo/wordmark you can get several benefits which is mentioned under:
Exclusive Right: The owner has the exclusive right to use it for all products falling under the applicable class. Also, the owner has sole ownership of the trademark and can secure it from others from using the trademark in the same class in which it is registered. It gives the right to sue the unauthorized user of the registered trademark. In other words, the owner owns the trademark and can prevent others from using it in the class in which it is registered. It also provides the owner the right to claim for any unauthorized infringement.
Global Trademark Registration: If you want to expand outside India or want to register a trademark in another country, don’t worry; A trademark that has already been registered in India can serve as a solid foundation for seeking international recognition. On account of all the goodwill combined, A trademark that has already been registered before can be used as the basis for registration in another country. Shortly, a trademark which is registered in India, coupled with established goodwill in the country, can give a solid foundation.
Acts as a shield: It is crucial for every entrepreneur to assure that his or her brand is secured from competition. If the trademark that the person is working to develop is already a registered trademark by someone else, the person not only loses business and goodwill in the market, but also has the potential to restrict others from using the same trademark. also loses the right to As a result, protecting a trademark will protect the business, which will help the individual by preventing others from using a similar trademark.
Asset creation: Registration of a trademark creates an intangible asset, namely intellectual property, in the company’s balance sheet, which provides all the benefits associated with such assets. A registered trademark is a created right that, like any other tangible asset, can be sold, assigned, franchised, or commercially contracted, transferred, or bought. or even be used as collateral to obtain a loan. A registered trademark is a valuable asset that directly sets up goodwill for a business, company or brand. We all know that the value and reputation of a trademark have a huge impact on a consumer’s willingness to buy a product or service. If that’s not reason enough to get your brand identity trademarked right away, Legal Tax is here to guide you.
It Builds trust and loyalty or goodwill: The importance of trademark registration follows the prestige and excellence of a product or service. Registering a trademark increases the trust and recognition of customers in the market. The established quality of your product and services is known to all through a trademark, thereby creating trust and goodwill among customers in the marketplace. This helps in building loyal customers who always choose the same brand and long term customers who will consistently choose your trademarked brand over others.
Product differentiation: It makes it easy for customers to find your products and differentiates them from existing and anticipated competitors, and it serves as an effective commercial tool. A logo can convey the vision, quality or distinctive features of your company or an organization. It differentiates your product or service from competitors while serving as an effective promotional tool. Furthermore, your trademark or logo represents your organization’s vision, quality, and uniqueness.
Recognition of the quality of a product: Customers associate the quality of a product with a brand name, and an image about the quality of a specific brand is created in the market, which helps attract new customers as they purchase a product. can make a difference in quality. Trademark registration provides concrete proof of the value and worth of your product or service. Customers associate the quality of a service or product with a trademark. To attract customers and stand out, get an exclusive trademark registration for the brand and as a result, build your reputation on it.
Also ReadHow to File a Trademark in India
Attract Human Resources: As a veteran, young minds aspire to work for big brands. It promotes a positive image of the organization, And thus the candidates easily get attracted towards them. Also, young minds prefer to work for big corporations as they offer better benefits and salary stability. Trademark registration reflects a positive image of a company. Also, it reduces the cost of recruitment and other related activities.
Low cost protection for 10 years: Trademark registration in India is done at very low cost and helps in building a unique image for your company. Keeping it is simple and cheap. After registering a trademark, you only need to pay maintenance and renewal fees, which will be payable after 10 years. Similarly, when you register a trademark, you only need to pay security fee and renewal fee, which is payable after 10 years.
Protection from Infringement: No competitor or other person may use the wordmark or logo you have registered under the trademark. If any person uses a trademark without the permission of the owner or in a misleading manner, the owner can take legal recourse under the Act to prevent any person from using the trademark without permission. Also, your trademarked logo cannot be used or copied by anyone, including competitors.
Use of R symbol: Once a Trademark gets registered, you have the legal right to use the symbol “R” on your logo to express that it is a registered trademark and that no one else can use a same and similar trademark. If someone else uses your trademark without your permission, you can sue in court for egregious infringement of your exclusive use rights. It is devoid of all kinds of uses and rights. If someone else uses your passport, you can do passport registration on it.