Trademark Registration
A Trademark is a pivotal branch of intellectual property. There are different types of intellectual property such as Patents, Industrial Property, Trade Secrets, Copyright, and Geographical Indicators, Trademark is one amongst them. It is the unique identity of your product. Trademarks can be words, symbols, sounds, logos, a combination of colours, or even an identified smell. The Provisions related to Trademark are provided under the Trademarks Act, 1999.
Trademarks can also be utilized without registering a product. However, registering a product can have some far-reaching benefits which can be inferred from the provisions of the act itself.
Overview
In comparison to patents, trademarks are not that expensive and time-consuming. The limitation with trademarks, however, is that they cannot protect the whole article. The protection is limited to the symbol or logo of the product.
According to the World Intellectual Property Organisation’s (WIPO’s ) definition of a Trademark, it is a sign with the potential of distinguishing between the goods and services of different enterprises. It can also be a brand value. Trademarks can be acquired by an individual, business organization, or any legal entity. In India, provisions concerning the registration of trademarks are governed by The Trade Marks Act of 1999, The Trade Marks Rules of 2002, and The Trade Marks (Amendment) Rules of 2017.
Benefits of Trademark Registration
Exclusivity
Proprietor of a registered trademark has the benefit of selective right, i.e., he/she can decide to utilize the same trademark for every item that falls under the classes specified in the application. It prevents third parties from advertising similar services or products.
Legal Protection against
Registering a trademark will assign intellectual property to the product that provides exclusive rights to the owner, and hence, it will be protected against an infringement by any third party who uses the same without permission from the owner.
Differentiation
At the first sight of a trademark, it is what differentiates a product from its rivals. A customer base will be formed based on such unique trademark and the brand value that a product possesses. This will act as an efficient commercial tool. It captures the attention
Goodwill and Brand Value
A registered trademark is an expression of identity of the entity that possess it. A trademark communicates with the consumers about the company’s brand value, net worth and goodwill in the market. Once a product is associated with a trademark, consumers will begin to link the product with a certain standard of quality,
Trademark Cost-efficient protection
In India, registration of a trademark will be valid for a period of 10 years from the application submission date. It can be renewed timely with no upper cap on the number of times it can be renewed. Online trademark registration process in India is a very convenient and cost-efficient process and it is generally issued within a span of few days after filing.
Trademark Attracts new customers
Trademarks also help in furthering the company’s expansion by attracting new consumers who would start associating their value to the signs that represent the company. A positive perception is fostered around the company’s trademark, thus drawing the attention of more clients and consumers.