Know How Trademark Registration Can Impact Your Business
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 Intellectual Properties (IPs) at the right time to earn maximum profits. This article focuses on the value of a trademark and the key benefits of trademark registration that can help your brand prosper.
Before we dive straight to the point its important to know;
What is a trademark?
A trademark is something that helps consumers distinguish your business from other companies. It can be a logo, slogan, word, combination of letters, a monogram etc.
Here are some of the reasons that show the value of a trademark and how it 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. Trademark is the face of any company. A company’s reputation and services/products are determined by its presence in the market. For example, in the fashion industry, a trademark/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 offering 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 its business reputation. Hence online trademark registration helps you to monetize the value of a trademark 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 trademark is important.
• 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 trade name or its unique trademarked design like the coca cola bottle creates an impact on the consumer’s psyche. It helps to make a mark, increase brand visibility and stand out with a unique brand identity.
• Open avenues for business expansion
Once the trademark registration process is complete and your trademark is safe with registered ownership. 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 damages. Hence it brings clarity and avoids any confusion among the consumers.
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 and therefore, creates value in a trademark.
• 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 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 the option to go for international registration under the 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 Intellectual Property Rights. It helps the company thrive in so many ways if it’s structured and managed aptly. To know more about the importance of a trademark, read more about reasons why trademark registration is so important! Trademarks are the most effective once the consumers are directly connected to them in a way that the brands enjoy considerable recognition. The impact of a unique trademark helps companies create goodwill and a reputation.
Are you planning to build some Intellectual Properties? Contact Legalwiz.in‘s reliable professionals for any IPR-related query. For online registration of trademark call on 1800-313-4151, professionals at LegalWiz will be happy to help you.
Kahini Jhaveri is an IP specialist at LegalWiz.in, with a keen interest in content creation. She holds a B.A. LLB honours from Institute of Law, Nirma University, Ahmedabad. Kahini specializes in Intellectual Properties, specifically Trademark Law.
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