The registration of a trademark depends upon the holder of the entire right to the trademark in association to the goods or services in regards to which your mark is registered and to specify it by using the symbol (R) and look for the consolation of transgression in suitable courts in the state.
In other words, trademarks are quirky signs used to identify goods and services from a particular firm. These can be designs, images, symbols, expressions, or signs. It is significant because it helps in distinguishing your products from other competitions. It is linked with your brand and/or services. Trademarks are known as intellectual property and thus secured from transgression. Trademarks and their rights are secured by the Trademark Act, 1999.
If one wants the shelter in the trademark rights, he has to register the trademark. It is significant to register your trademark since it avoids counterfeits from copying your mark and misleading other products or services from your brand name or trademark. This helps the consumers to identify your brand and the credibility at first glance such as the logo of a tick is known for Nike or a jumping cat for Puma etc.
Trademarks do not have an exact limitation period, just like patents. If a patent expires in 20 years, a trademark registration expires after 10 years of registration. Trademarks and patents can be renewed after their expiry. As long as you keep renewing your trademark it will not be expired and will continue to be under the protection of the Act.
Benefits of Trademark Registration
An entrepreneur should always be aware of the benefits of trademarking his/her business. Here is a list of some of them.
· Exclusive Rights
The holder of a Registered Trademark enjoys the exclusive right over the trademark. He can use the same for all of his products that fall under the category. Moreover, he can also benefit from the sole ownership of his trademark and can sue counterfeits for the use of the same trademark where it is registered. It authorizes them to stop others from unauthorized use under the same class.
· Builds Trust and Goodwill
It builds the quality of your product and/or services that are known by all of your consumers through the trademark registration service provider and this eventually creates trust and goodwill of your company among the consumers. It helps in generating permanent customers that are loyal and always go for the same brand.
· Differentiates Product
It is very easy for consumers to search for your products. This makes your product and their recognition different from that of the previous and expected competitors and also works as an efficient commercial tool. Your logo is the true transmission of the aim, quality, and vision of your organization.
· Recognition to Product’s Quality
Trademarking your business gives recognition to the quality of your product. Consumers link the quality of the product with the name of your brand and this builds a positive image of a particular brand in the market. This helps in attracting new customers for they can differentiate the quality of a product by the brand’s name or logo.
· Creation of Assets
The registration of a trademark builds an intangible asset i.e. Intellectual Property for a firm. It is a right that can be assigned, sold, franchised, or commercially contracted. And trademark gives the advantage to the organization as an intangible asset.
· Use of (R) Symbol
As soon as the trademark has been registered you are authorized to use the (R) symbol on your logo which states that your brand is a registered trademark and no one has the right to use it. It has all the rights and all the types of usages. If someone else uses the same trademark you gave the right to sue it right away!
· Security Against Transgression
No one has the right to use your registered logo under the trademark whether it is your competitor or any other person. However, if anyone uses it without your approval or misleads users by using the same, you have the legal right to protect your trademark under the Act and restrict the person from doing so.
· Security for Straight 10 Years at a Cheaper Price
Online trademark registration is way cheaper and affordable. It can be done at a very low price. As soon as you register the trademark you will only have to pay the maintenance and renewal cost which is after 10 years of getting your trademark registered. It is cost-effective and helps in establishing your company’s unique image.
· Global Trademark Registration
If you want to get your trademark registered in other countries too, the trademark registered in your own company can be used as a foundation of registration there. For any entrepreneur that wants to expand his business, a registered trademark can be a good start along with the Established Goodwill on the Country.