It is well known that all business must protect their IPs in order to grow. A company may have multiple intellectual properties i.e. Patents, Trademarks, Copyrights, Trade Secrets etc. It is important to secure the IP ’s at the right time to earn maximum profits. This article discusses the key benefits of trademark registration that can help your brand prosper.
Before we dive straight to the point its important know;
What is a trademark?
A trademark is something that helps consumers distinguishes your business from other companies. It can be a logo, slogan, word etc.
Here are some reasons why trademark registration is important for your business:
• Trademark works like your PR
Trademark is a tool that puts your company out in public. It becomes the brand’s identity. TM is the face of the company. A company’s reputation, services/products are determined by its presence in the market. For example, in the fashion industry, a trademark / a brand name becomes an incentive for people to choose that brand over the others. If your registered trademark can strike a chord with customers and they believe in offered quality, your brand is bound to grow.
• It’s an asset for the company
Once the brand has made a niche in the business, its value propels. The brand’s value will increase with business reputation. Hence online trademark registration helps you to monetize that value in the future and secure it from possible infringement. However, trademark registration is possible only if the brand name is unique. hence getting a trademark search before applying for TM is a must
• Helps you market your brand better
The consumer markets have gone global, and hence the need to be unique and distinct has increased. The recognition a brand gets through the tradename or its unique trademarked design like the coca cola bottle creates an impact on the consumer’s psyche. It helps to make a mark and increase brands visibility.
• Open avenues for business expansion
Once the registration is complete and your trademark is safe. You have the flexibility to go forward with expansion from one industry to another. In the future, if you plan on selling your business to another corporation, having a registered trademark adds to the company’s value. This allows you to enjoy the fruits of the hard work you have put into building the brand.
Registration makes your brand one of a kind. Similar marks cannot be filed or used. If someone does, you have the right to sue and claim for damages. Hence it brings clarity and avoids any confusion among the consumers.
The consumers identify the products and services through the trade name. This helps in creating a market reputation and the trademark becomes the face of the company.
• Rights and legal protection
Registration gives the owner the right to sell, license, and make money out of the brand exclusively. The right to sue the infringers is the most important right of a registered trademark owner. one can be sure of the infringement claims. Once the trademark is recorded, one may require proper legal evidence in order to defend a trademark publicly.
• Increases credibility and trust among the consumers
Registration gives the client an idea that the company is concerned about brand building and serving authentic, quality products.
• Help you make your brand global
Trademark registration in India helps the domestic traders in getting exposed to the global market through the International Trademark System. Non-Resident Indians and foreigners are eligible to register a trademark in India. Once the notional phase is complete, one has option to go for international registration under Madrid protocol
• Right to use the registered symbol
Registration allows using the registered symbol beside your trademark for goods and services listed in the registration.
Any company that wishes to prosper and grow should invest in IPR. It helps the company thrive in so many ways if its structured and managed aptly. Trademarks are the most effective as they are the once’s the consumers are directly connected to. The impact a trademark makes can help companies to create goodwill and a reputation with the customers on a personal basis.
Are you such a company who are planning to invest in their IP? Contact Legalwiz.in for any IPR related query. For online registration of trademark call on 1800-313-4151, professionals at LW will be happy to help you.