In a consumer’s daily life, a trademark registration plays an essential role in making their decision while selecting the products. Trademark symbol on the superscript of any brand name builds faith for brands to attract customers. The trademark logo helps in making it rich.
WHAT IS A TRADEMARK?
Trademark is an intellectual property right given to some symbols, devices, names, or words. Trademark allows the name/ design to be employed by the owner and also makes sure it is not utilized by anybody else.
The disparity between registered and unregistered Trademark
In India, any mark recorded under the Trademarks Act, 1999 is regarded as a registered trademark. A registered trademark owner will be given special rights for the tradition of logo/name and ensure the non-usage of the same by others.
Registered trademark users will possess an upper hand in legal proceedings compared to unregistered trademarks. Registered trademark users are allowed to utilize the ® symbol to their name. On the other hand, unregistered trademark users will only be enabled to employ the TM symbol alongside the application procedure. In some cases, unregistered trademark users will obtain frequent law rights.
EXCLUSIVITY OF THE BRAND
Trademarks aid startups in safeguarding their brand. It safeguards stealing or copying by the competitors, making it stand exclusive among other false services/ products. By registering a trademark would aid in securing the brand name from several copy-cats—for instance, Bookmyoffer and Bookmyshow.
IT DECLARES MORE ABOUT PRODUCT OWNERSHIP
If you have a registered trademark under your name, any product registered under your ownership will also hold a registered product of yours. Thus, by registering a trademark, evidence of ownership goes to your brand.
PROTECTED BRAND NAME
A registered trademark will prevent anyone from employing your brand name. Thus it lessens direct competitors from your brand name and makes your product different from other competitor products with a diverse name.
When you register a trademark for your business, it will protect intellectual property laws. You require to register your Trademark to protect it. No law can safeguard you if a trademark is registered for a similar name/logo/brand by any other owner. In such cases, the party with the non-registered Trademark will be advocated to change the name. Thus, you need to initiate from the beginning!
TRADEMARK CLEARS WAY FOR DEVELOPMENT
Trademark lends a substantial helping hand explicitly when you are searching for the development of your business. It majorly enhances the accomplishment of your new business, and also, the brand name is already identified as brand value.
HUGE PROFIT MARGINS
As we all know, the hugely identified brands like Apple, Adidas, Nike, etc., have large profit margins just because their brand is recognized. A registered trademark and recognizable brand can rush forward to your profit margins.
They generate Brand Recognition
Trademarking gives startups security for their brand. By trademarking a company name, one creates its services and products unique to their competitors, generating intellectual property. In doing so, it puts off copying or stealing their brand.
It’s an inducement for Employees to Join
Startups must generate a positive reputation when they hold a trademark. If a business holds a good reputation, people are liable to work with and for them. This executes even more so when development is related. As a startup, more employees are necessary if a company is bound to grow. This requires a budget, which makes the Trademark a critical asset when given a business loan.
It prevents authorized Issues in the Future
Not registering a trademark leaves a business release to lawsuits from companies who did register one under the identical name, sign, slogan, or design. If that does happen, a business will be forced to pact with varying all it came up with, such as the campaign, website material, and to a considerable extent, their brand individuality.
A Trademark is for Life
A trademark is enduring, with a requirement only for periodic replenishment. Consider the behemoth above companies of Pampers and Jacuzzi- they have been power-houses in their corresponding domains for decades and will persist in flourishing for decades to come. This brings about the significance of carrying out trademark research to ensure the governing body doesn’t allow a startup’s application.
Thus, it is prudent to utilize the services of a well-known Intellectual Property service provider with a good status.
It is A Company’s Huge Asset
It can conduct as a catalyst for enhancing value as a startup business matures, and also the startup persists to increase. Thus, it is imperative to employ a trademark for marketing strategies to help the improvement of brand recognition and to bring in more consumers.
Once a startup has a skillful optimistic status for its product or service, consumers will connect its Trademark with how the business is going out. Trademarks are notably advantageous when a business is willing to:
Expand its products or services, Branch into permitting through licensing, and Accomplish more value by putting itself up for sale.
It informs People That You Mean Business
It’s no secret that trademarks create an authority to a business’s name, like Disney, for instance. Could you picture Disney didn’t trademark their name or brand? Consider the legal bloodshed that would develop. People would be battling tooth and nail to benefit from the empire of accomplishment that encompasses their trademarked brand.
However, suppose a business has a trademark attracted to its brand. In that case, it notifies the competitors and the world comparable that they have trust in the accomplishment of their business and that they hold something worth stealing. That sounds gloomy, but it’s the truth. Would you behold something that isn’t valuable? Giving the extra effort by registering a trademark for your business brings a different influence on your target customers.
It provides a sense of Autonomy
It’s a beautiful, brutal scene. Being even the tiny fish in a minute pond as a startup is super tricky. With this respect, a trademark can be as support. After a startup builds itself, it would be willing to maintain a better standing.
Trademarking a brand enables a recently budding firm to moderate the blows from the market by wearing a defensive blanket; it both directly and circuitously notifies others that the brains steering the business signify.
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