The great businessman Jeff Bezos once said “A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well”. Trademark protection is a very important tool for the modern day businessman. Trademark is a way by which you can protect your brand identification in order to prohibit others from using the same/similar brand name. By protecting your brand name, no one else in the market will be able to use the same or identical mark for any business which is similar to that of yours. A trademark when registered provides a legal right to its owner to use the mark within the jurisdiction of its registration without any fear of someone else getting the fruits of your hard work.
Benefits of filing a trademark:
There are various benefits of getting a trademark registered under the Trademark Act, 1999, formulated by the Government of India. Seeking a help from a trademark lawyer for the filing of trademark application will help you receive these following benefits:
- The Trademark owner will have a right to exclusive usage of the mark.
- The registration will restrict others from using the same/similar mark (word/logo).
- The registration will increase the market value of your business as the future purchaser of your business will pay a good amount for the goodwill and reputation associated with the trademark you have used in the past years.
- The customers will be assured of a better quality product/service as the owner is trying to create a brand out of the mark by registering the trademark. The customers feel a sense of confidence in the mark when they get to know that the owner of the mark is willing to create a goodwill and reputation in the market due to which the customers feel that the products/services being provided by the owner will be of a better quality.
- The registration will add a brand value to the mark as no one else in the market will be able to use the same name as of yours to do a business you are involved into and you will be the sole owner of the mark.
- The trademark registration will help you benefit even economically as the Trademark Owner can license the mark to the third party in exchange for some valid consideration.
- Once your mark is registered in the Trademark Register, anyone who starts to use the same mark from anywhere in India is automatically expected to know of your existence and can be stopped from using the mark.
- The moment the mark gets registered in the Trademark Registry, you may put ® symbol in order to show that your mark has been registered and others should not even try copying it as it may lead to legal consequences.
- You have the right to sue if someone tries to infringe your trademark by using an identical name for the same business you are involved in.
- You can claim damages for the loss of goodwill and reputation in the market due to the use of your brand name by some other entity.
- The mark will be registered for a period of 10 years. The owner can protect the mark for as long as he wishes to by just renewing the trademark every 10 years by the help of a trademark lawyer.
Once the Trademark gets registered, the Owner of the Trademark must protect the mark by appropriately using the mark for the class it is registered under and should also monitor if the same/similar mark is being used by some other entity.
We at Ediplis Counsels are a specialized Intellectual Property Firm and offer a full range of Trademarks services to help take your mark towards registration.