A trademark is a property in one’s intellectual property that is a term as a symbol, slogan, or sign that is quite different and can let people recognize it easily, which helps our company to give a prior view, setting it apart from other similar kinds. It helps the business claim ownership over its brand and give uniqueness in identity to its products and services.
Trademarks are important for businesses because they help to identify the products of their customers from those of their competitors through a certain word. Definition, logo, or slogan. For the business, a trademark is a little more than a symbol; it reflects the company’s reputation and value in the market.
Trademarks can be registered or unregistered, but for a trademark to be protected from any copying or being used by other people, it needs to be registered. For this reason, business owners need to be aware of the benefits of registering their trademark.
Here are all the reasons why registering a trademark in India is beneficial.
Benefits of Trademark Registration
1. Exclusivity:
He or she has a selective right in case of a registered trademark, i.e., he or she can choose to use the same trademark in respect of every subject within the classes specified in the application. It prevents third parties from advertising similar services or products using confusingly identical trademarks.
2. Legal protection against infringement:
When you register the trademark, it gives you legal rights over that brand name. Logo or symbol, and you get an exclusive right to use it. You are supposed to stop any other individual from using the same or similar trademark of goods or services without your permission. It is called infringement if someone does that. It happens when a person uses your permission that mark is deceptively similar to the registered trademark.
Once you register, as the owner of registered trademarks, you can use the symbol after your trademarks to indicate that it is a registered trademark. If any infringes on your exclusive right, then you can approach the court for suitable legal action for him. You are covered under
sections 27 and 29 of the Trademarks Act; appeal to the court for relief against infringement and damages, and you will be provided the best solution by the court.
3. Differentiation from other products:
In the initial glance of a trademark, it is that which distinguishes a product from its competitors. The customer base will be established based on such distinctive trademarks and the brand value the particular product owns. It will serve as an effective business tool. It attracts the attention of the consumers and influences the decision of a buyer by minimizing the confusion over the authenticity of a brand.
4. Goodwill and brand value:
When you register the trademark, it is an expression of the identity of the entity that possesses it. A trademark communicates with the consumers about the company’s brand value, net worth, and goodwill in the market. Once a product is associated with a trademark, consumers will begin to link the product with a certain standard of quality, features, and performance level in the market. Soon, a trademark becomes apparent evidence for the quality of a product or service that is offered. Hence, it could be stated that a registered trademark would promote the image of the company in the market by maximizing consumer confidence.
5. Creation of an intangible asset of value:
A registered mark frees the owner from the misery of having to bear the onerous burden of showing distinctiveness at each step of proving the deceptive representations, thus in itself representing a form of property.
A trademark is an intangible property in the context of income tax or accounting terms.In fact, these trademarks can be sold, bought, licensed, assigned, used commercially, or even franchised in any manner the owner deems appropriate to him. It is also a potential source of income, as revenue can be generated through selling, licensing, or assigning them to third parties. The economic value of a trademark also increases parallel to the growth of the business and the mark’s popularity. The value or cost of trademarks can also be recorded in account books, and a record revenue or deduction on depreciation can also be claimed on them.
6. Global recognition and eligibility:
India being a signatory to the Paris Convention for Protection of Industrial Property, the Indian application of trademarks has the right of privilege and priorities to secure registration and protection of their trademarks in countries that are signatories to the convention.According to this convention, under it, a registered owner can raise a basis of priority or prior user’s claim the basis of trademark registration certificate in India. When such a right of priority application is
filed by any of the contracting states of the convention, the applicant can apply for protection in any other contracting states just within a period of 6 months.
Besides, the registration and the goodwill thus obtained in India would also serve as a robust base for getting recognition abroad. Further, in terms of Section 36D of the Trademarks Act, 1999, introduced via the Trademarks (Amendment) Act, 2010, applicants from India could now get international registration and protection for their trademarks.
7. Cost-efficient protection:
Rejection of trademark in India valid time period of 10 years from the application submission date. It can be renewed in time, with no upper limit on the number of renewals possible. Online trademark registration process in Delhi (India) is quite easy and also a very economical process, and generally, it is issued within a few days from the date of filing.
8. Attracts new customers:
Trademarks further expand the company by attracting new consumers who would start relating their value to the signs that demonstrate the company. Positive perception can be achieved for the trademark of the company, hence commanding more attention from clients and consumers.
Conclusion
Hence the conclusion is that the registration of a trademark in India has extra advantages. The growth of most of the companies can be directly related to the increased value of the brand. International operations can bloom as a result of this too. A trademark ensures that only the owner can use the mark and prevents its misuse or infringement. Trademarks ensure that only the owner can use them. A good trademark is memorable, helps the association of trust and reputation with products or services the company offers, and keeps it unique and above the rest in its respective market.
#Trademarkregistrationindia #RestorationofTrademark #Trademark consultant #TrademarkInfringement
Leave a Reply