We've all heard that the value and reputation of a company's trademark have a significant impact on a consumer's willingness to buy a product or service. To establish your brand identity, register your trademark now.
Owning a Trademark :What Is a Trademark?
A trademark can be any symbol, word, phrase, design, or combination of these, that can be represented graphically. A good trademark is easy to pronounce and remember. At the same time, it is also unique and has a distinctive character. A distinctive trademark helps customers distinguish your products or services from your competitors. It is an important intellectual asset for a business, as it deters competitors from using similar names or logos. Additionally, registration also helps customers associate visual cues with your products, thereby nurturing brand loyalty. Read more to know about Benefits of Owning a Trademark
Protecting a business name or logo is important for all growing businesses, including start-ups. The owner of a registered trademark will have an exclusive right to use their trademark in the class of products or services that they have chosen. In addition, the owner will have the tools necessary to prevent competitors from infringing on their trademark and profiting from their hard-earned reputation.
Benefits of Owning a Trademark Filing
Every entrepreneur must be aware of the Advantages That Trademark Registration provides. Here are the top advantages of a trademark:
Exclusive Rights of Owning a Trademark
The registered trademark owner has sole ownership of the trademark. The owner can use the same for all products that come under the applied class(es). Furthermore, the owner has sole ownership of the trademark and can prevent anyone from using it without permission in the same class in which it is registered. It grants the right to sue anyone who uses the trademark without permission.
You can check trademark availability with Vakilsearch’s free Trademark Search tool before registering a trademark.
The Benefits of Owning a Trademark : Builds Trust and Goodwill
The trademark makes the proven quality of your goods and services known to everyone, establishing trust and goodwill among customers in the market. It helps in the development of long-term customers who are loyal and always choose the same brand.
Differentiates Product
It differentiates your product by making it simple for people to locate it. It differentiates your goods and their identity from that of current and anticipated competitors and serves as an effective promotional tool. Your company’s or any organization’s logo can communicate your vision, quality, or unique attribute.
Product Quality is Recognized
It recognises the product’s quality. Customers associate the product’s quality with the brand name, and this picture of a certain brand’s quality is formed in the market, which helps in attracting new customers because they can identify the quality of a product based on the logo/brand name.
Owning a Trademark – Creation of Asset
Registration of a trademark establishes an intangible asset for an organization, namely intellectual property. A trademark registration creates a legal right that can be sold, assigned, franchised, or commercially contracted. Furthermore, the trademark is an intangible asset that benefits the company.
Use of the ® Symbol On Your Logo
Once your trademark is registered, you can use the ® symbol on your logo to indicate that it is a registered trademark and that no one else can use it. It is devoid of any and all forms of uses and rights. If the trademark is registered and someone else uses it, you can sue the other party.
Infringement Protection
No competitor or third party is allowed to use the trademark wordmark or logo that you have registered. However, if someone uses it without the owner’s permission or in a misleading manner, the owner can seek legal protection under the Act and prevent the person from doing so.
Protection for 10 Years at a Low Cost
It is done online for a very low cost of maintenance. Once you’ve registered your trademark, all you have to do now is pay the maintenance and renewal fees, which are due after 10 years. It is cost-effective and aids in the creation of a distinctive image for your firm.
Global Trademark Registration
If one wishes to apply for trademark online in a country other than India, the trademark that has been registered in India can be utilized as the basis for registration in that country. Any company looking to develop outside of India can benefit from a trademark registration in India, as well as the country’s established goodwill.
Attract Human Resources
As a magnate, young minds aspire to work for huge brands. It promotes the organization’s positive image, making candidates more easily drawn to them. As a result, the cost of hiring and related activities is reduced.
Who Should Be the Owner of a Trademark?
Who should be the owner of a trademark is an important decision that should be made prior to applying for a trademark. In general, the trademark owner should be the primary entity or person which controls the type and quality of the goods and services associated with the brand.
Generally speaking, large corporations do not place too much emphasis on this question because they have it covered from the start. The trademark by default is owned by the corporation itself.
Similarly if a person runs a business as a one-man show and nobody else is involved in the venture, deciding whether to register a trademark in the company’s name or the individual’s name is purely a personal decision.
Partnerships, on the other hand, are an entirely different matter. When a number of individuals work together to run a business, it is best to keep trademark ownership under the authority of the firm.
Frequently Asked Questions
When should I trademark my business name?
The best time to trademark your business name is as early as possible, ideally before you start using the name in commerce. Trademark registration provides legal protection and exclusive rights to use the name in connection with your goods or services. By securing a trademark early, you can establish ownership, prevent others from using a similar name, and build brand recognition without the risk of infringing on someone else's rights.
Is it free to trademark a name?
Trademark registration in India is not free. There are costs associated with filing a trademark application and going through the registration process. The fees depend on factors such as the number of classes of goods/services, the type of application (online or offline), and whether you hire a professional trademark agent or attorney to assist you. It is advisable to consult with a trademark professional from Zolvit for the most accurate and up-to-date information on the fees involved.
Do I need a lawyer to register a trademark?
Hiring a reputable trademark professional from Zolvit can offer several benefits when you are in the process of owning a trademark. Our professionals have knowledge and experience in trademark law, the registration process, and can guide you through the complexities and requirements involved in filing a trademark application. Consulting our experts can help streamline the process and increase the chances of successful registration.
What is the difference between the ™, SM and ® symbols?
Here is the difference between ™, SM and ® symbols - ™ (trademark symbol) is used to denote that a word, phrase, or logo is claimed as a trademark. It signifies that the owner is using the mark to brand their goods or services, even if the mark is not yet registered with the appropriate trademark office. SM (service mark symbol) serves a similar purpose as the ™ symbol but specifically indicates that the mark is being used to identify services rather than goods. ® (registered trademark symbol) is used to indicate that the trademark has been registered with the relevant trademark office and provides the owner with exclusive rights to use the mark for the registered goods or services. The ® symbol should only be used once the trademark has been officially registered. It is important to note that the ® symbol should not be used until the mark is actually registered, as using it prematurely can be misleading and may have legal implications.
How long does a trademark for my business name last?
In India, a trademark registration is initially valid for ten years from the date of application for owning a trademark. After the initial ten-year period, the registration can be renewed indefinitely for successive periods of ten years each, as long as the mark continues to be used and the renewal fees are paid on time.
How many owners can be for a trademark?
There is no limit on the number of owners that can be for a trademark. However, all owners must be named in the trademark application and must agree to the terms of the trademark registration. Vakilsearch can help you with all of your trademark registration needs. We have a team of experienced trademark lawyers who can help you register, monitor and enforce your trademark rights.
Can I put TM on my logo?
Yes, you can put TM on your logo if you have applied for trademark registration for that logo. The TM symbol indicates that you are claiming trademark rights to the logo. However, it is important to note that TM does not provide the same level of protection as a registered trademark.
Are trademarks profitable?
Yes, trademarks can be very profitable. They can help businesses to protect their brand identity and reputation, and they can also be used to prevent competitors from using confusingly similar marks.
What happens if someone uses your trademark?
If someone uses your trademark without your permission, you may be able to take legal action against them. This could include filing a trademark infringement lawsuit. In some cases, you may also be able to send a cease and desist letter to the infringer.
Conclusion
Vakilsearch is the place to go if you want to register a trademark for your company or venture. From trademark registration through trademark renewal, we offer a wide range of services like Owning a Trademark. Furthermore, we can assist you with the filing of a response to a trademark objection. Our team is well-known in the industry for its trademark-related services: https://ipindiaonline.gov.in/tmrpublicsearch/frmmain.aspx
