Importance of trademark in IndiaIt is necessary for conglomerates to have an understanding about “importance of trademark” in order to flourish their businesses. The trademark makes a distinction between the goods provided by a specific manufacturer or trade person from other comparable goods. The main agenda behind a trademark is to safeguard the interest of traders as well as the consumers. It comprises of a mechanism that represents the impression of human beings, letters, signature, animals, numerals and more. A trademark plays an interesting role in promoting the goods and provides information about the quality of the product. It enables an enterprise to acquire individual rights to utilize, distribute or assign a mark. This can be done by registering its trademark. A Trademark is designed to represent an organization or merchandise, which may belong to an individual, an enterprise or any other establishment. Trademark can also be denoted as Service Marks.
Distinction among Registered Trademarks and Unregistered TrademarksA registered trademark acts as a legislative solution to infringement. In order to establish infringement, it is mandatory to ascertain that the infringing mark is comparable or deceivingly alike to the trademark that has been registered. Other than this, no other is proof is required. Whereas, in case of an unregistered trademark, those services and commodities are protected that have a noteworthy position in the market. This kind of trademark is commonly employed for those practices of trade that have gained popularity among the public in India. When there is no trademark registration, it is likely for a company to rely simply on the universal regulation of rights, which exists in that specific geographic location of the company. Thus, it is plausible for any individual to schedule a mark equal to the mark of another firm. Under such circumstances, registration attempted by a different user may obstruct the progress of the trademark usage of a company. Moreover, it will impede the company from acquiring a trademark registration.
Important aspects of Trademark Registration
- Under trademark registration, the label will manage to gain a certain amount of exclusivity. Moreover, the consumers will be able to distinguish between the services and supplies from opposing firms.
- When a trademark is associated with the branded products, the value of the product automatically increases. In addition, it easier to advertise the product with a desirable trademark. Most importantly, the trademark is the most profitable apparatus that enhances the product’s uniqueness.
- In order to achieve an advantage over potential rivals, it is necessary to have a registered trademark. It is a crucial element that not only adds significantly to the brand but also plays an important role in the escalation of business.
- It is integral for any company to protect their brand name. A registered trademark safeguards that name by explicitly displaying the actual ownership of the product. On registering, the owner has the privilege to sell, amend or utilize that product in any manner.
- A trademark on being successfully registered can last up to lifetime. It requires renewing once in every ten years.
- The trademarks enable internet users to distinguish between products and find the relevant product without any difficulty. Search engine or social media platforms easily identify trademarked products just by a simple click. Elevated website visits and social media advertisement lead to a higher degree of brand recognition.
- In terms of communication, the trademark is the best tool that one can hope for. All the technical issues can be solved under one logo. The unique logo gives information ranging from the company’s reputation, its services to needs of consumers’. Trademarks can break barriers of language and culture and function across borders.
- Registered trademarks lead to a more convenient hiring process. Due to higher recognition of the brand, employment prospects are more advantageous to suitable candidates. Moreover, the uniqueness of the brand instills a positive feeling among the employees as well.
- A trademark that is registered increases the sales percentage. This will be beneficial in getting the attention of potential consumers
- The title-holder of registered trademarks is entitled with the right to file a lawsuit and demand for compensation if under any circumstances the trademark registration is compromised.