A Brand Name is referred to as “Trademark” in legal terms. A Trademark is any symbol, word; name, device, numerals or combination represented graphically and can be registered as a trademark. A trademark is a unique symbol which distinguishes your goods or services from others. The trademark registered for services is called service marks.
A Good Trademark is easy to speak and recall and retains its uniqueness and distinctive character. While Brand Value and the reputation of a brand play a crucial role in a consumer’s decision to purchase any goods or hire any service.
As an entrepreneur, you should be aware of the benefits of Trademark Registration. Here are the top 10 benefits:
Advantages of Trademark Registration:
- It gives you exclusive rights:
As an owner of a registered Trademark, you enjoy exclusive privileges over the trademark. It can be used for all the products falling under the class(es) applied. Furthermore, you enjoy sole ownership of the Trademark and can limit unauthorized use of the Trademark under the same class where it is registered. It gives you the ability to take legal action against any unauthorized use of a registered Trademark.
- It builds trust and goodwill:
Trademarks create trust and goodwill among the customers in the market and build a brand association and loyalty which is very important for sustained business. By creating a distinct identity for the product and services, you can build a customer base that would always prefer to buy your brand, leading to permanent customers.
- It creates a distinct identity for your product:
Registering the logo or trademark helps your customers to easily identify your product. As every registered trademark is unique, it sets your product apart from existing and future competitors. Trademarks are also efficient commercial tools as the logo communicates the vision, quality or any unique feature of your company.
- It enhances your product’s quality:
Customers often associate trademarks with the products quality, creating a likeness about the quality of a particular brand. This can be very helpful in attracting new customers as they can differentiate the product by the logo or trademark.
- It helps you in the creation of Asset:
A registered trademark is a right created which can be sold, assigned, franchised or commercially contracted. By registering your trademark, you create an intangible asset or intellectual property for your business.
- It allows you to use the ® symbol on your logo:
The ® symbol on the logo on a duly registered trademark gives you the exclusive rights to use the trademark. This means no one other than you can sell the products under that particular trademark as it is exclusive in all types of usages as well as rights. The owner of the trademark, you get the legal right to restrict unauthorized usage, once the trademark is registered.
- It provides security against misleading usage of the trademark:
Only you can use a logo or trademark registered by you. In case any party or company uses your trademark without prior approval, or uses it in any misleading way, the owner can seek legal protection under the Act and stop the infringement.
- It translates to low maintenance cost for 10 Years:
Online Trademark registration has a very low maintenance cost. Once a trademark is registered, you would have to pay the maintenance cost and renewal cost only after 10 years of registering the trademark. It is cost-efficient and helps the company to create a unique image.
- It helps expand your business outside India:
You can utilize the registered trademark for procuring a trademark abroad. Your reputable brand recall along with the significant goodwill and loyalty provides a superior platform for expansion outside India.
- It helps to draw talented resources to work for your business:
Young and bright minds aspire to work with well-known brands. An unquestionable image attract talent with passion and potential, helping you build a great team while reducing cost towards hiring and related activities.
Undoubtedly, registering your logo or trademark has multiple advantages. MyTax Guru offers great convenience at a minimal cost by taking care of your trademark registration.
Enjoy peace of mind and augment your business by calling us @ 9224618250 or email to email@example.com
Visit our website to know more: http://www.mytaxguru.net/
-Article by – Team MyTaxGuru