All about Benefits of Trademark registration in India

Introduction

For any company entity, trademark registration is essential. According to the Companies Act of 2013, a company cannot choose the same name as another company that has already been registered, by trademarking company's brand name it will help company to protect that name from other business. A company's trademark is a significant asset that can affect a consumer's decisions. Protecting a company's goods or services can help build brand recognition. In this blog there will be detailed information on What is Trademark, Benefits of Trademark registration, and related information on Trademark registration in India.

What is Trademark Registration in India?

Under the Trademark Act of India, trademark registration is an intellectual property registration. Trademark registration confers intellectual property ownership, exclusive rights to use the registered trademark, and legal protection in the event of trademark infringement. Words, slogans, company names, numerals, and other items can all be trademarked. The procedure of registering a trademark usually takes more than a year. After filing a trademark registration application with the Trademark Registrar, the TM sign can be placed next to the logo or business name to alert people that a trademark application has been filed.

Benefits of Trademark registration in India

• Validity of Trademark registration in India

The trademark will be valid for the following ten years once it is registered. Between these ten years, there are no legal obligations, fees, or other statutory requirements to retain trademarks. Also, just like a passport, a trademark certificate can be renewed shortly before it expires, and the owner can protect his or her trademark from third parties.

• Brand Recognition to the third party

Customers identify the performance, quality, and features of a product with the firm that makes it. They use the logo, which is a registered trademark, to identify the goods in general. Trademark registration makes it easier for consumers to recognize your products and services. Trademark registration, also contributes to the brand's goodwill. Brand recognition will help company to attract new clients while keeping existing ones.

• Business Assets Creation

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.

• Safeguard Company's Assets

Unfair competition can be effectively combated with the use of a registered trademark. Today's marketplace is filled with copycats and counterfeiters who profit from the usage of untrustworthy brand names. Unfair competition is effectively prevented by a registered trademark. The trademark holder has a power to sue the third party if he has used company's intellectual property without the permission of the trademark holder.

• Global Trademark Registration

If one wishes to register a trademark in a country other than India, the trademark that has been registered in India can be utilized as the foundation 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.

Conclusion

The benefits of trademark registration far outweigh the cost of registration. Although its value cannot be evaluated in financial terms at this time, the market turnout provided by a registered trademark plays an important part in the growth of a company. As a result, it is advisable for individual to apply for a trademark before someone else misuses the brand name or copied from you.

Author Bio

Ishita Ramani is a young female entrepreneur who works for EbizFiling India Private Limited as the operations director. She has led a staff of 50+ professionals, including CAs, CS, MBAs, and retired bankers, over the course of her career. She developed a broad understanding of all aspects of Indian statutory compliance, including business incorporation, legislation, and taxation. She has been crucial in successfully guiding and building up activities at Ebizfiling throughout her career.