Trade Mark Registration, Advantages and Importance
A Trademark may be a symbol, word, device, name, numerals or label which is used by a business to differentiate its goods & services from other similar ones. A Registered Trademark is an intellectual property particularly for a business and used to shield the company’s investment in the symbol/brand.
An only distinctive trademark can be registered for your goods and services. If the proposed trademark is identical to an existing registered trademark, then the same cannot be registered. If the selected trademark is deceptive, offensive, or containing any protected emblems, then the same cannot be registered.
In India, the Controller General of Patents, Designs and Trademarks launches, Government of India is the authority to register the trademark. It is registered under the Trademark Act 1999, provides a right to the trademark owner suing for damages at the time of trademark infringements occurs. Once the trademark is registered, it will be valid for Ten years and the symbol “R” can be used. Registered Trademark Renewal can be easily done by filing the Trademark Renewal application for the next Ten years.
What are the advantages of Trademark Registration?
Unique Identity: Your unique trademark identity helps your customers to identify the products and services offered by you. Your competitors will be prohibited from using your trademark for similar services/goods.
Trust or Goodwill: Registered trademarks always develop a sense of trust, quality and goodwill in the customers’ mind. Trademarks ensure that your customers’ care about your brand.
Asset Creation: An intellectual property is an intangible asset for any organization which is only created by Trademark filing. The Registered trademark is a right that can be franchised, sold or contracted commercially.
Assignment: One can transfer his company’s registered trademark. However, the same is not possible for a common law trademark that can only be transferred with the business.
Deterrent: Trademark registration strictly deters other traders to use the same trademarks identical to yours. You explicit your right by using ® symbol to others.
Security: A registered trademark can be used as a “Security”. It means a registered trademark can be mortgaged as a security to secure loans as how the immovable properties are pledged.