Brand Name in legal terms is connoted as a “Trademark”. A trademark denotes any symbol, logo, word, name, phrase, device, numerals, or any other distinctive mark of a company that differentiates it from the other brands or companies. The trademark which is registered for services is known as a service mark. A good trademark is easy to speak and remember alongside being unique and distinctive. The decision of a consumer approaching for the purchase of any goods/services or hiring a service is highly influenced by the brand value and its reputation in the market. Any and every entrepreneur should be well aware of all the benefits of trademark registration.
What are the benefits of trademark registration?
There are several extraordinary benefits of trademark registration rather than simply relying on common law or unregistered rights. Here are the top 10 benefits of trademark enlisted below:
Exclusive Rights
A registered trademark is eligible to be licensed, giving the owner the right to use the mark exclusively concerning goods and services covered by it. The most important reason for trademark registration is authoritative remedies against its unauthorized use. A trademark license is capable of being listed on the trademark register and thus giving the licensee the right to institute legal proceedings in the event of an infringement.
Security
A registered trademark could be deposited as security, meaning that a registered mark can be pledged as a security to acquire loan facilities just as immovable property can be pledged.
Differentiates the Product/Service
It becomes easy for customers to find products with a particular brand name or a symbol. It makes the product and its identity different from that of the existing competitors and acts as a powerful commercial tool. The logo can very effectively communicate the vision, quality, and the unique identity of a company or an organization.
Builds Trust and Goodwill
The entrenched quality of the products and services is well known by each individual through the trademark which establishes trust and goodwill among the customers in the market. It assists in creating permanent customers who are loyal and choose the same brand.
Intangible Property
Registration of Trademark builds an intangible asset i.e. Intellectual Property for a company. This is one of the very crucial reasons for trademark registration. A registered trademark is a right established which can be sold, assigned, franchised, or commercially contracted by the owner.
Use of the ® symbol
Once the trademark is registered, the owner has the authority to use the ® or “R” or word “Registered” for the goods and services listed in the registration and no one can else is adept to use the mark. It is exclusive of all sorts of usages as well as rights. If another person or company uses the same mark then they can be held for trademark infringement by the owner.
Attracts Human Resource
Young brains aspire to a part of big brands as it acts as a magnet by portraying a positive image of the organization and the candidates are attracted to it very effectively. As a result, it reduced the cost of hiring and its related activities.
Protection Against Infringement
Neither any competitor nor any other person or a company can use or attain any benefits from a registered trademark. However, if anyone in the case uses it without prior permission or 0notification by the owner of the registered trademark then the owner is entitled to legal protection. The person registered as the proprietor of the mark is the evidence of the original registration in legal proceedings related to the mark unless the contrary is proved.
Economical Protection for 10 Years
Online Trademark Registration with TrademarkCart is a simple and economical process alongside being low on the cost of maintenance. Once the mark is registered the owner enjoys the benefits of trademark registration for 10 long years just by paying minimal maintenance cost. The registered trademark requires renewal only after 10 years in the majority of the countries across the globe.
Global Trademark Registration
Trademark registration in one nation helps the company to register trademark seamlessly in other nations with a priority claim issued by the country in which the mark was registered previously.
Are you interested in Trademark Registration?
To take the leverages of trademark registration, we recommend you take guidance from an experienced professional. TrademarkCart is an experienced portal to help you at each step of trademark registration at the lowest and affordable prices.
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