The trademarks are the unique specials signs, which are utilised to identify the services or products of a particular firm. It could be pictures, designs, expressions or signs. They differentiate the commodities of one company from that of their competitors. It could be connected with the product or the brand. The trademark registration India as well as its rights happen to be protected under Trademark Act of 1999.
After someone finds out how to register a company, they would need to work out the other details. Trademark registration is one among those vital things to accomplish. It lets the consumer identify the original product or services amidst plethora of other similar items and company in the market. The brand value also increases with a particular trademark, when the marketing is done right. Usually, a trademark registration tends to expire after 10 years, from its date of registration, but it can again be renewed for another decade. There are many advantages of trademark registrations.
- Legal Protection: Once the trademark is registered, it is classified as an intellectual property. Therefore, it is protected by the copycats and any possibility of infringement gets eliminated. It also gives its owner the exclusive right for its usage under the “Class” of commodities or services that it stands for. A symbol of “TM” appears next to the trademark, after it is registered, which means it can’t be copied or used by someone to represent their items in the market.
- Product Differentiation: The trademark registrations happen to be distinct for the commodities and services that they stand for. They enable acute differentiation of their items against other items of their competitors.
- Brand Recognition: Every consumer associates an item’s quality, performance, features and other attributes to the company that makes it. Consumers identify the connection between a company and its products by its logo. This happens to be the trademark registered. Thus, it enables brand recognition and an easy penetration of the market by the company.
- Asset Creation: Trademark registrations are a business asset created as soon as they are legally registered. It is an asset of intangible nature for income tax and accounting purposes. They can be franchised, sold, commercially assigned or exploited in a manner to benefit the company they belong to. The trademark has a cost or value, which can be recognised in the account books, while a deduction could also be claimed for its value depreciation.
- Business Goodwill and Valuation: After learning how to register a company. It is important to find out how to manage retaining loyal customers. The registered trademarks and its associated commodities or products enhance the business value in a wide manner. The net worth of the business as well as its goodwill once established, only grows; if the quality is maintained.
The trademark registration India would be a great thing to do, to increase the visibility and thus, profitability of the company. Hence, design thinking on the trademark would be necessary.