Benefits of Trademark Registration

Overview of Trademarks –

A trademark is any symbol, slogan, tagline, a combination of letters or words symbol or signs capable of distinguishing the goods and/ or services of one person from another. It helps in the identification of the source of a product. A trademark is a unique symbol that distinguishes your goods and/ or services from others. The blog discusses some of the benefits of trademark.

A good trademark shall be easy to speak and remember, and the same must not lose its uniqueness and distinctive character that makes the trademark different from another. Decision of a consumer approaching for purchasing any goods or services are highly influenced by the goodwill and reputation of the brand. In India, trademarks that are registered with the trademark registry is generally perceived as reliable brand. Furthermore, it is also fair to perceive that registered trademarks are reliable as a trademark is an identification of the source of a product. Therefore, every registered trademark owner would be more cautious of selling a low-quality brand as it would affect their brand identity.

Every entrepreneur should be aware of the benefits of trademark registration.

Benefits of Trademark in India–

• Exclusive Rights: 

  Registered trademark owners enjoy exclusive rights over the trademark. The owner can use the same for all the products falling under the class(es) applied. Further, the owner can enjoy exclusive ownership of the Trademark.

  A registered trademark gives you an exclusive right to take legal action against a party who attempts to violate your right by making unauthorized use of your trademark
  

• Builds Trust and Goodwill: 

  Other benefits of having a trademark are that it helps in the establishment of trust and goodwill in a brand. The established quality of your product and services is known by everyone through the trademark. The trust and goodwill in a brand increase when it becomes popular among consumers. It helps in creating permanent customers who are loyal and always opt for the same brand.

• Differentiates Product: 

  The purpose of a trademark is to have a distinguished brand identity. This is also one of the benefits of a trademark. This means, that a unique brand identity creates a brand appeal and attracts relevant consumer markets to buy a product. It gets easier to market or commercialize a product with a unique brand identity which is in line with the market requirements. It creates a unique identity for you among the competitors. The brand identity lets you communicate your vision, quality and various other features of your product as well as the business enterprise.

• Recognition to Product’s Quality: 

  It gives recognition to the quality of the product. Customers attach the product’s quality with the brand name and this image is created in the market about the quality of a particular brand which helps in attracting new customers as they can differentiate the quality of a product by the logo/brand name.

• Creation of Asset: 

  Trademark is intellectual property. Having a trademark is an asset. A registered trademark is a right created which can be sold, assigned, franchised or commercially contracted.

• Use of ® Symbol: 

  Once the trademark is registered you can use the ® symbol on your logo stating that it is a registered trademark and no one can use the same trademark. If a third party violates your registered trademark then you have a right to bring legal action against the infringer.

• Protection For 10 Years at Low Cost: 

  Online Trademark registration is done at a very low maintainability cost. Once you register the trademark you have to just pay the renewal cost and the same is to be paid every ten years of registering the trademark. It is cost-efficient and helps your company create a unique image.

• Global Trademark Registration: 

  Having a registered trademark in India does not grant you global trademark registration. If one wants to register the trademark in countries other than India, then the trademark registered in India can be used as a base trademark application. From having a base trademark application, it gets easier to file a trademark application in foreign countries.

• Attract Human Resources: 

  Young minds aspire to join big Brands as it acts as a magnate. It inspires a positive image of the organisation and thus candidates are attracted to them easily. Hence, brand name registration reduces the cost of hiring and related activities.