Trademark

Protecting Your Trade Mark or Brand Name

What is Trademark?
A trademark is generally a word, phrase, symbol, or design, or a combination thereof, that identifies and distinguishes the source of the goods of one party from those of others.
Example: Levi's, Adidas, McDonald, Pepsi, Coca-Cola, TATA, Suzuki, Jio, etc

Why trademarks are important?

THEY CREATE BRAND RECOGNITION
BUILD GOOD REPUTATION IN MARKET
EASY TO IDENTIFY THE BRANDS
IT AVERTS LEGAL ISSUES IN THE FUTURE
IT IS A COMPANY’S GREATEST ASSET

It can act as a catalyst for increasing value as a startup business matures, more so, if the startup continues to expand. Thus, it is important to use a trademark for marketing strategies to aid the enhancement of brand recognition and to draw in more consumers. Once a startup has attained positive repute for its product or service, consumers will associate its trademark with how the business is running. Trademarks are significantly beneficial when a business wants to:

Diversify its products or services,
Branch into franchising through licensing, and
Attain more value by putting itself up for sale

What is Trademark Registration?
Trademark Registration is a legal procedure provided under the Trade Marks Act, 1999. Through trademark registration or you can say logo registration/brand registration, you can protect your brand or logo by restricting other people from using the same. By trademark registration, you get the ownership of the logo / name / brand.

Legal Protection
A trademark typically protects brand names and logos used on goods and services. For example, if you invent a new kind of Mobile application, You would apply to register a trademark to protect the brand name of the application. It will protect from unauthorized usage from third parties.

Easy Communication tool
A registered trademark can be easily identified which brand your product belongs to

Easy for customers to find
A registered trademark makes it easy for customers to find the product. As it is an effective tool and unique in its identity, the trademarks that are registered can be easily traceable and customers may reach your product easily.

Conclusion
Trademark Registration provides an exclusive right to the owner and distinguishes the product from other similar products from other businesses. Trademark proves as intangible assets for the owner and protects the brand for a long time. Trademark provides an exclusive right to the owner to use such words, logos, and slogans. In a market like India it is crucial that a brand is protected and safe. Hence, not out of compulsion but out of necessity it is important to have a trademark registration in India.