Trademarks serve as marks of identification, like people associate the iPhone with the half-cut Apple symbol. Before filing a trademark application, one must consider some important factors that include selecting a mark, the format of a mark, identifying goods and services and searching. This will help to get trademark registration hassle-free. Registration can be taken by a natural person, body incorporated, partnership firm, Hindu undivided family, an association of persons, joint proprietors, trust, society, government authority, as well as government undertaking. There are a total of 45 categories in trademark. It is always suggested to businesses to get registration for their trademark so that they can take various advantages of trademark registration. Key advantages of trademark registration will be discussed in the current blog so that business owners will understand the importance of registration of trademarks.
What is the Importance of Trademark Registration?
It is always suggested that a business get registered its trademark. This will give different recognition to the brand, which will help that brand to stand among the competitors differently. There are a lot of similar kinds of businesses that are growing in the market. It is really important to stand differently among them all. If you are not standing differently, then there is no use for that business because, in that case, your business will not grow. It is one of the advantages of trademark registration that it will give a business a distinct identity among similar kinds of business. Some of the important points regarding trademark registration are given below:
- Distinct identity
- Associate customers
- Provides goodwill
- Helps in growth and development
- Secures brand among the competitors
What are the Key Advantages of Trademark Registration?
There are multiple advantages of trademark registration, but here in the current writeup, we will discuss some of them that are really useful for a business. It is advisable for businesses to get registration of the trademark because of the following advantages associated with it:
Exclusive Right
After getting the registration for the trademark applicant, who is the owner of the property will get exclusive rights over the trademark of the brand. It means without the permission of the owner; one cannot use the protected trademark to get any benefit out of it. It will protect the brand name in the market.
Build Trust and Loyalty
Trademarks build trust and attract the loyalty of the customers. In the business world, both trust and loyalty are important for the growth of a business; hence, it is one of the most important advantages of trademark registration. To attract customers and gain their loyalty, one must get registration for the trademark.
Ensures Products Quality
When the brand name is built, customers are attracted to your brand. In that scenario, it is very important to deliver quality products to the customer. If a customer comes once and you deliver them a bad service, they will surely not come to you again; hence, it is really important.
To maintain product quality. It is one of the important advantages of trademark registration that it gives consumers trust that a particular brand maintains quality. It will help the business owner while ensuring the products’ quality once a brand value is created in the market.
Asset Creation
In the present era, intellectual property works as an asset for an entity. These are the intangible assets of the company, which helps them to grow in the market among the competitors. These assets of the company not only help to gain profit but also in the growth of the business. In any way, they play a great role in the success of the business.
Easy International Registration
Once a brand gets registration for a trademark in India, it becomes easy for it to get registration for its brand internationally. National and international protection are two different protection, and the processes for both of them are different. It is a little bit tough to get international registration for a trademark in comparison to national registration for a trademark. But after getting national registration for the trademark it will be easy to get it recognised internationally.
Attract Human Resources
Once any kind of business becomes a brand and it becomes popular among the masses of people, it will gradually attract human resources. Registration of trademarks helps in brand building, and brands attract human resources. Every business needs talented human resources to expand and make a business successful. Therefore, it is advisable to get registration of a trademark.
Monetary Benefits
Trademark licensing helps to get various monetary benefits to a business. Through this, a licence has been given for the use of the third party after taking consideration for the same. This will not transfer the ownership of the trademark, but for a certain duration, any third party, after paying consideration, can use it. The best illustration of the same is the franchise business.
Miscellaneous Advantages
Registration for a trademark shields your brand from infringement, offering legal protection and a solid foundation for business expansion. With a ten-year initial protection period and the potential for international registration, trademarks are a strategic investment. They attract talent, essential for business expansion, and can generate monetary benefits through licensing agreements. Some of the miscellaneous advantages of trademark registration are given below:
- Protection against the infringement of the trademark
- Distinct identity
- Less cost protection
- Easy registration process
- Direct got protection for ten years, then needs to renew
- Brand value in the market
- Can help while building profit
Conclusion
There are multiple advantages of trademark registration for businesses. It provides exclusive rights, safeguarding your brand from unauthorised use and potential legal penalties. Moreover, trademarks foster trust and loyalty among customers, which is vital for sustainable business growth. They grant your brand a distinct identity, essential in a competitive market, and ensure the maintenance of product quality, further enhancing customer satisfaction. Trademarks also serve as assets, boosting your company’s value and aiding in its success. Ultimately, trademark registration is not just a legal requirement but a powerful tool for establishing and safeguarding your brand’s reputation and success in the marketplace.
