Trademark Registration
Trademark is an intellectual property right under the Trademark Act of India. It provides ownership of intellectual property rights to exclusive use of the registered trademark and legal protection in case of trademark obligation.
About Trademark
The primary function of a trade mark is to differentiate the goods or services or services provided by the trader from those provided by other traders. A trade mark is therefore an important element of any business as it not only identifies a trader it also transmit to consumers that the goods or services bearing the mark come from a unique source, recognizable from all the other sources for those goods or services. Generally the term trademark is intend to both trade marks and service marks. It’s actually the same thing. The difference is that a trade mark assist goods or products, whereas a service mark assist services. It emerge to be joint use to refer to service marks also trademarks or service marks. However, the reverse is not true; and you cannot refer to a mark connect to goods as a service mark.
BENEFITS OF TRADEMARK REGISTRATIONS
Benefits Of Trademark Registration
Trademark Registrations is an Asset
A trademark is not a tangible asset. It is an intangible asset to business that adds value to it. It distinguishes the service from the rivalry prevailing in the market. Trademark can resemble with the brand as they stands apart, attract the customer easily identifiable from the rest of the others
Cost Effective
Registration of Trademark in India is little cheap. Once, the application for registration of a trademark is filed it would take 6 months to 2 years to process the application and allow the certificate basing, on the government processing.
Trademark Registrations is valid for 10 Years
Once, the trademark is associated it will be valid for the next 10 years. In between these 10 years, no legal commitment no charges or other legal requirements concerning trademarks to be done. Also, just before the expiry of the trademark certificate, it can be recreated, just like a passport and the proprietor can secure, the trademark by a third party.
Trademark registrations can be enforced against Company Name
As per Companies Act, 2013, the name of the company cannot be similar to the registered trademark.This provision can be used to block the names that the company aspire to use it for future. A company name cannot be identical to that of a trademark. Therefore, once a trademark is registered, a company cannot be registered in the similar name.
Protects investment in Advertising & Branding
Today’s competing markets have made publicizing and branding a must for any business. Businesses spend on a range of advertising medium such as radio, newsprint, digital, TV, etc., to improve their brand among customers. If a brand is not trademarked, the brand can be claimed.
Protects against unfair competition
A registered trademark can be used as an efficient weapon against unethical competition. Today the marketplace is full with copycats and counterfeiters who mistreat unscrupulously used brand names for their own advantages. A registered trademark is an operative, deterrent against such unfair competition.