Trademark is an essential intellectual property right that brands need to protect their goodwill, as well as their identity in the market. Online Trademark registration in India grants a brand the exclusive and unequivocal right to use their trademarked word slogan, or symbol. This right also lets you stop others from using their trademark. It is commonly said that every business should go for a trademark registration even though Trademark registration is not legally mandated. if you’re considering going for trademark registration but aren’t sure how it will impact or help your business, this article is for you
Understanding Trademarks
A trademark is a symbol, word, or combination of words that distinguishes one brand from another. For example, the apple logo on iPhones is a trademark. It helps you distinguish an iPhone from other smartphones. Trademarks are extremely important because consumers attach different perspectives and goodwill with different products and services. A trademark helps consumers identify where the product and services that they like are coming from and as a result keep buying them in the future. It ensures that the consumers do not accidentally buy the products of your competitors. Here are some ways that trademark registration can help your business:
Benefits of Trademark Registration
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Unequivocal right of use:
A trademark grants you the exclusive and unequivocal right to use that symbol, slogan, or combination of words. No other brand can use your trademark. Additionally, you can bring legal action against any organisation or individual that uses your trademark without your permission. This is extremely useful especially because you can renew a trademark infinite times.
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It’s an Asset:
A trademark is an asset for any business; not only does it help your consumers identify your products and services. But it is also a property that you can sell or get into collaborations for with other businesses or individuals. For example, you can grant licenses where you give individuals or organisations the permission to use your trademark for certain monetary value.
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Brand Identity & Loyalty
: As said earlier, a trademark helps your consumers identify which products and services are from your brand. So, in a way your trademark becomes an identity for your brand. It becomes an easy way for you to not only make sure your product always stands out, but it is also great for gaining brand loyalty. All big brands have a set of loyal users or fans. This is only possible if your brand is easily recognisable.
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Legal Benefits:
All registered trademarks get access to legal redressal mechanisms that the unregistered trademark holders do not. A trademark holder can sue anybody else who uses not only the same trademark as them but also any person who uses an extremely similar trademark. Generally, if there are two brands using similar trademarks, the one with the registered trademark is giving preference to.
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International Registration:
A trademark that is registered in India can then be registered under the Madrid protocol. By following this, one can make their brand global. In a globalised world being able to not only cater to consumers all over the world. As well as being able to protect your brand in other countries is extremely vital. Especially if you’re interested in globally expanding your business operations.
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Get Registration in other Trademark Classes:
Having a registered trademark in one class helps you get that trademark registered in other classes as well. A long-time holder of a trademark can show how that trademark is now completely interlinked with their brand identity and accordingly easily get a trademark license under other classes as well.
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Higher brand credibility
: Finally, trademark registration also gives your brand credibility. In India there are hundreds of stores that you come across every day, and each of them have a name. A registered trademark symbol next to the name of any store or organisation only indicates how well the business is doing. It also shows the business owners are serious about their venture. This is even more helpful for start-ups or companies looking forward to getting investment from Angel investors and venture capitalists. As it shows them not only that the business-owner(s) are serious about their business ventures. But also, that they have taken the necessary steps to protect the value of their brand.
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Conclusion
Trademark registration is not mandatory, but for any brand or organisation that is serious about their business’s future. Trademark registration is an absolute necessity. Not only does it help protect your brand, but it also increases your visibility amongst consumers. Which in turn helps your business grow. The courts in India have time and time again emphasised the importance of trademark registration and protected the rights of the trademark holder. While the Trademark registration process can take time, it is absolutely worth it.
As a business owner, you want to take every step possible to help your brand succeed. Trademark registration is a necessary step for your business’s success. It’s better to register your trademark beforehand. Than to wait until the brand has grown and earned some goodwill and then be forced to change your symbol or logo because somebody else has already filed for registration of the symbol, word, or combination of words. If your Trademark is not registered. Then even though you were using the Trademark first, you may still lose your rights over it.