Saturday, August 8, 2020

Registering a Trademark / Brand Name / Logo

Trademark:

A trademark is a unique identity that differentiates your product / service in the market. It can be a unique word, name, logo, numeral or any other identifier. It is essentially a representation of the owner's company, name / brand. A registered trademark is an invaluable asset to your company as it is used to protect your company's brand. Registration ensures protection of your unique logo / brand by restricting usage by other competitors as identical/ similar marks cannot be registered.

Trademark owners have the right to use their mark exclusively for a period of 10 years from the date of registration.

The following are the advantages of registering a Trademark:

Legal Protection:

The main advantage of registering trademarks is that your goods and services would have a unique identity and a brand name. The owners would have exclusive rights over the mark and would be able to take action or sue for damages in the case of unauthorized usage.

Asset Creation:

Registered trademarks may be bought, sold or leased just like any other asset attached to an individual / company. It becomes part of the intellectual property that is owned by an individual / company.

Brand Popularization:

A registered trademark will make it easier for customers to find your products in the market. It builds the reputation of your product and creates an identity which is unique from that of existing products in the market and thereby, acts as an effective commercial tool. The logo can represent the vision and individual characterization of your company and products.

Goodwill:

Registered trademarks help in customer recognition and the extra earnings that follow because customers want to acquire your product due to increased recognition of your brand and name.

Customers relate the quality of a product with its brand name, and this will help in attracting new customers as they will be able to differentiate the quality of a product by your logo or brand name.

Protection for 10 years:

Protection for 10 years: Every registered trademark is valid for 10 years and may be renewed for another 10 years with ease by merely filing a trademark renewal application. It is cost-efficient and helps your company create and maintain a unique image.

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