Overview of Trademark Registration
The registration of a trademark improves a company's image and goodwill. Furthermore, this registration ensures that goods and services are uniquely positioned, allowing businesses to profit more. In general, trademark registration serves as a legal instrument that protects a company's intangible assets, such as its brand name and logo, from infringement.
Obtaining trademark registration is a time-consuming process due to the number of requirements outlined in the current Act. It is currently governed by the Trademark Act of 1999, which establishes various provisions relating to registration, eligibility criteria, and the types of rights available to the owner.
Advantages of Trademark Registration
Protects the Brand Name
Customers can easily identify a single product or service based solely on its brand name. The registration of a trademark ensures that competitors cannot apply for the same and serves as a company's unique asset.
As a result, the owner can defend others against traders who use his or her trademark illegally. They may also sue the infringer for using the brand name and seek damages for any infringement that occurs.
Easily identifiable
Customers can quickly find products by trade marking them. Differentiation can be done on the basis of various types of products, as goods tend to develop their own identities. The registered owner has the authority and right to create, secure, and protect the goodwill associated with his or her products. The registered owner shall have the authority to create, secure, and protect the goodwill of its products.
Making a valuable asset
If the brand is established and successful, the registered trademark can be a valuable asset. Once registered, the trademark becomes an intangible asset that can be traded, distributed, franchised, or commercially contracted because a trademark is intellectual property for the organisation that ultimately benefits the company or individual proprietor.
Sales Promotion
When a product is sold in the market to its customers, the brand is attached as a feature of the product or service, and as the product spreads in the market, it helps to increase sales by attracting more and more customers.
What Kinds of Things Can You Register as a Trademark?
Name: A person's name, including the applicant's or predecessor's surname, or their signatures, can be trademarked.
Word: The word should be distinct and indicate to the purchasing public that the good is manufactured or otherwise dealt in by a specific person as opposed to similar goods dealt or manufactured by other persons in order for the purchasing public to identify their own.
Numbers: Letters, Alphanumeric characters, numerals, or any combination of these.
Logo: The business entity's logo, which can be 2-dimensional or 3-dimensional, can also be trademarked.
Who Can Obtain A Trademark
1. Individual
2. Joint Owners
3. Limited Liability Partnership
4. Trust Or Society
5. Proprietorship Firm
6. Partnership Firm
What is the difference between ™ and ®?
When there is a TM on the brand name or logo, it indicates that the trademark application has been filed and the registration is under process. An applicant can use the TM beside his brand name or logo once the application is filed. He can use it until the registration is done. After completion of registration, the TM gets replaced by ® which means the trademark registration is completed and it is valid for 10 years.