10 benefits of Trademark registration in India.
Trademark means a mark capable of being represented graphically and which can distinguish the goods or services of one person from those of others and may include shape of goods, their packaging and combination of colours. It can be in the form of word, symbol, design, logo, or a combination of any these things. It is important to register one’s trademark as the registration provides protection and other benefits to the owner of a trademark. The benefits of registering a trademark in India are as follows.
- Exclusivity: Upon registration of trademark, the owner enjoys exclusive rights and the products and services provided by the business of the trademark will have unique identification among the consumers, competitors and public. This exclusive identification helps in building good market reputation.
- Legal Protection: Upon registration, trademark is classified as Intellectual Property (“IP”) and infringement of trademark is protected under the Indian Trademarks Act, 1999 (“Act”). The owner of the trademark has a right to civil and criminal remedies under the Act. Registration of trademark provides legal protection in case of any unauthorized use or passing off or usage of deceptively similar marks.
- Asset: Registration of trademark creates an intangible asset to the business organization and such IP can be sold, assigned, franchised, or commercially contracted to third parties in any manner for commercial gain.
- Differentiation of products: The products or services that are represented by trademark registration are distinct. A trademark will allow you to distinguish your products from that of your competitors. As trademark registration is applicable to entire class of goods and service, it aids in distinguishing your products. Customers associate the product’s quality with the brand name which builds the reputation in the market and thereby attracting new customers.
- Trust and Goodwill: Goodwill and trust in the market among customers are established by the quality of your products or services and registered trademark enhances the value, net worth and goodwill of the company and its business in the market. Registered trademarks facilitate in communicating the brand’s distinct features, qualities and vision of the company and helps in expansion of the business.
- Global Trademark Registration: Trademark registration in India acts as a good basis of registration with established goodwill and it helps the domestic traders in gaining recognition in global markets through International Trademark System. Both foreigners and non-residents are eligible to register their trademarks in India.
- ® symbol: After registration, one can use the ® symbol for the products and services listed in the registration. The ® symbol implies that it is a registered trademark and gives protection to ensure no unauthorized use.
- Infringement: With registration, the owner of the trademark has exclusive rights of the trademark and can sue the third party if such trademark is used with permission before the appropriate Courts for infringement.
- Cost-effective: The cost of registering a trademark is relatively less and the registered trademark is valid for 10 years. The only thing that requires to be paid for is maintenance and renewal cost. Therefore, one can effectively register trademark at a low cost for a long time.
- Human resource: As the brand name and value enhances with trademark registration, the business outgrows and becomes a well-known company, which in turn entices lot of young talents aspiring to work with big brands. Thus, it attracts human resource and helps in the expansion and development of the business.
Therefore, registration of trademark is very important and crucial to the advancement of business.