We all know that a consumer's willingness to purchase any product or service is heavily influenced by its trademark brand value and reputation. If that isn’t reason enough to get your brand identity trademarked right away, this one's for you.
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, trademark registration also helps customers associate visual cues with your products, thereby nurturing brand loyalty.
Why Is Trademarking Important?
- Trademark registration is essential if you want your company, brand, product, or service to stand out from the crowd
- Registering your trademark ensures that there is no lookalike impersonating your product or service in the market, eliminating the possibility of having to rebrand
- Further, registering a trademark in India is crucial if you want to protect your intellectual property and secure your rights.
Every up and coming entrepreneur needs to know about the numerous advantages that follow trademark registration. So, here’s a list of the top 10 advantages of trademarking your brand identity.
1. Exclusive Rights
The owner of a registered trademark has exclusive control over it. The owner can use the same trademark for all other products falling under the class(es) specified in the application. Furthermore, the proprietor has exclusive ownership of the trademark and can restrict others from using it in the class(es) in which it has registration. It also grants the owner the right to prosecute against any unauthorised infringement.
2. Builds Trust and Loyalty:
Trademarks represent the reputation and excellence of a good or service. Registering a trademark develops confidence and recognition among customers in the market. Moreover, it aids in the development of loyal and long-term clientele who will consistently pick your trademarked brand over others.
3. Differentiates Product
Trademark registration makes it easy for customers to find your products. It distinguishes your product or service from your competitors and all the while serves as an effective promotional tool. Further, this is because your trademark or logo represents your organization’s vision, quality, and one-of-a-kind trait.
4. Provides Identity to a Product’s Quality
Trademark registration offers tangible proof of your product or service’s value and worth. This is because customers associate the quality of a service or product with its trademark. Moreover, this recognition aids in attracting new customers who inadvertently differentiate the quality of a product or service by its logo.
5. Asset Creation
The registration of a trademark creates intellectual property for a company. A registered trademark is a legal privilege that may be sold, delegated, franchised, or economically contracted. Furthermore, a trademark acts as an intangible asset in the balance sheet of a company that provides all the benefits of such assets.
6. Legal Right to Use the ® Symbol
When a trademark is registered, you may use the ® symbol on your logo to indicate that it is a registered trademark and that no one else can use a similar trademark. In the event, another person utilizes the trademark without your permission, you can sue for such blatant infringement of your exclusive rights of usage in the court of law.
7. Safeguard Against Infringement
If someone uses a trademark without the endorsement of the owner or makes any misleading utilization of the same, the owner can get an injunction against the act and stop the individual from utilising the trademark unauthorized. No one else, including competitors, have rights to use your trademarked logo.
8. Low-Cost Protection for 10 Years
Trademark enrollment is cost-effective and allows your company to maintain a distinct brand. Online trademark registration is easy and affordable to maintain. Likewise, when you register a trademark, all you have to do is pay the protection fee and the renewal fee, which is due after 10 years of trademark enrollment.
9. Global Trademark Registration
If you want to expand outside of India or simply want to register a trademark in another country, worry not, because a trademark that has already been registered in India can be a solid foundation to gain international recognition. This is because a trademark that has already been registered in India can be used as the basis for registration in another country on account of all the goodwill garnered.
10. Attract Human Resources
Popular brands are known for attracting young talent. Furthermore, young minds want to work for large corporations as it ensures greater perks and more stability in pay. Trademark registration puts forth a positive picture of an organization. Moreover, this diminishes the expense of recruitment and other related exercises.
Talk to the Experts from Vakilsearch
The benefits of trademark registration far outweigh the cost of registration. Although a trademark’s value cannot be assessed absolutely, the growth in turnover propelled by trademark registration is reason enough. Therefore, this is why we recommend you register your brand’s identity today before a competitor beats you to it.
Partner with Vakilsearch and secure brand recognition today!