Trademark Registration is way of giving legal protection, unique identification & to differentiate your product in the market from your competitors. This unique identification is given in the form of certain word, logo, symbol, character, numerals or a combination of these.
Trademark registration is a time consuming process and one should take due care before finalising trademark of their product because it will ultimately create the long term memory for the product in market.
There are various qualities which a trademark must possess viz. easy to speak, pronounce & remember, without losing its uniqueness & distinctive character.
Trademark of a product/service helps them in creating its brand value which ultimately makes it unique and adds to the growth of product/service.
- Brand Protection: Creating & managing brand of your business is necessity but providing it due protection is something one should also focus at while creating a brand. This can be provided by registering it with Intellectual Property Rights Registrar.
- Goodwill: It is something which requires continuous hard work, a sense of trustworthiness with a brand, a reputation which a particular brand possesses in the market. This is a quantifiable asset which can be redeemed while it is being sold.
- Product Differentiation: It is a marketing process of communicating the uniqueness & distinctiveness of a product to potential customers. This can be done easily by Trademark registration. It helps to highlight & differentiate your product in the market.
- Recognition to product/service: Trademark registration of product provides it due recognition amongst the category; product is falling under.
- Quality Assurance: While developing the product/service one must give priority for its quality and this can be done if the product has a due certificate for it.
- Prevent unfair trade practices: once you have registered under trademark registration act, no other company/competitor can use your logo, symbol which you have registered under your name.
- Legal proceedings: If any person tries to use the trademark of product without the permission of the registered owner, then legal proceedings can be started in the court of law against the individual doing so.
- Ownership rights: Primary & exclusive right over the trademark lies with the owner itself. It gives owner the right to sue someone who is using its trademark without permission and can stop others from unauthorised access to that trademark.
- Use of “R” symbol: one can use “R” symbol under your logo when you have registered it under the trademarks registration act. This symbol use it. If anyone try to jump this clause, legal proceeding can be started against states that this logo is registered and no one else has the primary right to the said person.
- Edge over competitors in market: Getting your product/service registered under trademark registration act, will certainly give you an edge over your competitors in the market
- Additional brand presence in the market
- Less volatility in business
- Easy market penetration
- Competent brand value