IPR Importance

In the present highly competitive economy, it is imperative for business firms, organizations, conglomerates, and startups to know and understand the importance of Trademark Registration for flourishing their businesses. A trademark is an exclusive form of Intellectual Property (IP) that makes a distinction between the products or services of a specific manufacturer, business owner, or trade person from those of the others. The primary goal of a trademark is to safeguard the interests of not only the owners or traders but also the consumers. A trademark helps in marketing and promoting the products and services and provides information about their quality. It also enables an enterprise or organization to acquire the Trademark Rights to utilize, sell, or distribute a registered mark. With trademark registration, you can enjoy all such benefits and make your potential customers identify your brand with the Registered Trademark of its name or logo.

In India, The Trademark Act of 1999 presents a legal basis for governing and dealing with the mechanism of trademark registration and Trademark Protection. Trademark registration is classified into several different categories based on the nature of the business and activities they manage or operate. There are 45 different classes corresponding to various types of products and services. The process of trademark registration is governed by the Controller General of Patents, Designs, and Trademarks along with the Ministry of Commerce and Industry and the Government of India. They keep track of every registered trademark and maintain a registry for every type of product and service. The trademark registration term is ten years in India, which is renewable every ten years.

Significant Aspects of Trademark Registration in India

  1. With trademark registration, a label, brand, or business can manage to gain an extreme amount of exclusivity. Also, the customers and target audience shall uniquely identify your products and services and differentiate them from those offered by your competitors in the market.
  2. When a trademark exists for a brand or business, the value of its products and services – increases exceptionally and automatically. Additionally, it becomes comparatively easier to advertise, promote, or market a brand with its corresponding registered trademark. Last but not least, as the most profitable aspect, a trademark holds immense potential for enhancing the product’s overall market value.
  3. For having a competitive edge and advantage over your potential rivals, it is essential to go ahead with getting your trademark registered. As a crucial business element, a trademark adds to the value of the brand and increases brand awareness.
  4. It is integral for a company or organization to protect the brand’s entity or name by getting the trademark registered and displaying ownership of trademark rights. With trademark registration, the owner shall own the exclusive rights to utilize, sell, distribute, license, or alter that product in any manner.
  5. On being successfully registered, trademark protection can last up to a lifetime, with the renewal term being once in every ten years.
  6. When it comes to communication, a trademark is indeed the best tool as it gives unique and relevant information about a company’s products and services, and portrays a positive reputation.
  7. A registered trademark offers ease to online users by helping them in distinguishing between a large number of products and services and finding the most relevant one for themselves. Many search engines, like Google, and social media platforms like Facebook and Instagram, are capable of identifying the trademarked products quickly within a few clicks. Consequently, there is a higher degree of brand reputation for a business on the Internet as well.
  8. The owner of the registered trademark is entitled to initiate legal proceedings, file a lawsuit against the violators, and even demand monetary damages or compensation if under any circumstances his trademark rights are infringed.