,
We all are aware that what a Brand Value means to every business. While setting up a business, a brand name, its identity and logo play an important role because your brand mark and logo is one of the most important image your customers will have in their mind while entering into any business contract. Apart from everything, Trademark Registration is one of the most important registration a brand should proceed with post setting up of business. There are many reasons why a Trademark Registration is important for a business. We would like to share with you all the top 5 reasons why a trademark registration should be a priority.
Let’s read in detail:
1.Brand Identity: Every business is always concerned about their reputation, brand image, identity and goodwill. Whether it’s a startup or other well-established business. Goodwill is something which always impacts a brand. Giving an identity to your business via mark, tag line or logo provides it a recognition which creates an image of a brand in the mind of its customers, vendors or any other party associated with the brand in any manner. For instance, you have established a brand over a period of time and now your customer recognizes your business through a logo. If your mark, tag line or logo is not registered then anyone including your competitor can file an application for the similar mark which will ultimately hamper the brand drastically and affect its image in the market. Moreover, your business competitor can easily route all the business only with the help of a registered trademark image which is similar to your unregistered trademark.
If a business offers its product or services under a registered trademark then it always helps the brand in building up trust and goodwill in the mind of its consumer. Moreover, it helps you to protect your brand.
2.Legal Protection: Having a registered trademark provides a privilege in the eyes of law that you are the registered owner of the trademark and you possess an exclusive right to use the trademark. Hence, in case of any infringement of your mark by any third party can help you to file a legal suit against infringers. Law not only creates a restriction on infringers for further use of your registered mark but it also helps you to claim the damages caused to you including punitive damages, fines and attorneys’ fee. A registered trademark always acts as a legal shield to business identity.
3.Valuable Asset: Over the period of time as your business attains the higher success and your brand name also creates the value a registered trademark can be proved as one of the most valuable asset for your business as it can be franchised or sold which helps your business to earn more money.
4.Global Filing: If you have registered your trademark in your home country then you can also get it registered in any other country where you have not previously conducted business. You can even file for the global trademark application from your home country.
5.Business Expansion: A registered trademark can help you in business expansion if you want to expand from one geographical area to another. Whether you are operating in your home country or taking your business abroad, your consumer, employees or anyone can recognize your business with your trademark image, logo or slogan and it is always preferable to expand business abroad when you have the trademark registered in your home country. A registered trademark will always help you to access the new markets easily.
Conclusion: This is the truth that trademark communicate better and a registered trademark can add on to your business more value over the period of time. A registered trademark will provide your business a unique identity and sets your brand apart from the crowd. Moreover, it prevents your competitor to use your trademark in any similar manner because a registered trademark protects your business legally and once you protect your business name or identity from the beginning it will always provide you the benefit. Hence, it is always preferable to register your trademark once you set up your business.
Article By: Ms Bhavya Sharma, a Practising Company Secretary from Delhi.
In order to know more about the trademark registration process in India or any other part of the world, you can connect with us.
You can contact us at Legal@bhavyasharmaandassociates.com or for more details you can visit: www.bhavyasharmaandassociates.com
0 Comments