Following the implementation of the Company Act of 2013, trademark registration has become increasingly necessary for any company entity. As a result of growing awareness of trademarks and intellectual property, tens of thousands of “marks” are registered each year. A business cannot have a name that is confusingly similar to a registered brand, according to the amended Company Act of 2013. As a result, trademark registration is a vital part of starting a business.
In today’s extremely competitive business market, if you own something, you must have a legal license to own it. IP, which refers to intangible creations of the human intellect, must be registered in the form of a trademark. Other forms like patent, copyright, industrial design, or geographical indication, just like marriage registration. This will ensure that illegal or unlawful people do not have the power to copy or represent your valuable assets. Income Tax HelpDesk is one solution to all your GST and income tax-related services. Whether you want to file your GST registration or trademark registration, they’ve got it all. The following are some of the advantages of trademark registration in India.
Benefits of Trademarks and its Registration in India
Exclusive Trademark Rights
The owner of a registered trademark has exclusive Trademark Rights and can restrict any third party or individual from using it without permission. Furthermore, the owners are free to use the same trademark for all items or services that fall under the applicable class(es).
Builds Customer Loyalty & Goodwill
The goodwill and confidence in the market among customers are established by the quality of your product or service that corresponds to the registered trademark. Furthermore, a registered trademark aids in communicating your company’s and brand’s distinct qualities and vision.
Protection Against Trademark Infringement
Your registered trademark cannot be used by a business competitor or anyone else. If someone else performs the same thing, you can launch a trademark infringement lawsuit.
Creation of a Valuable Asset
You create an intangible asset and get exclusive rights to sell, franchise, assign, and commercially contract your idea when you register a trademark. Your company’s trademark functions as a marketing tool. A trademark is a representation of a company’s commitment to its brand, reputation, and integrity that consumers can use to help them make purchasing decisions. Like the real estate market, the value of an asset increases over time. Similarly, the value of a trademark rises dramatically as a company grows.
Differentiates your Product or Service
Customers will be able to recognize and know your goods or service more easily if you register your trademark. Customers associate the product’s quality with the brand name, which enhances the brand’s market reputation and attracts new customers.
Trademark Protection for 10 Years at Minimal Cost
Once you have a registered trademark, all you have to do is pay the maintenance and renewal fees, which are due every 10 years from the date of application. Furthermore, Online Trademark Registration is now available at a significantly reduces the cost of maintenance. As a result, you may effectively establish a unique picture of your company or brand at a reasonable cost.
Use of ® Symbol
After you’ve registered a trademark, you can use the ® symbol to show that it’s a registered trademark that no one else can use without your permission.
The basis for Global Trademark Registration
If a person wishes to register a trademark in a country or country other than India, trademark registration in India can serve as a good foundation for registration in such countries because of its established reputation.