Whenever we talk about trademark registration, we tend to show a negative response towards it. The one thing we argue is that- “When law protects my brand without registration, then why should I waste my money on registration”? But, we fail to realize that everything comes with a price. With the registration of the trademark, we get exclusive and added benefits for our brand.
Want to know why you need to register your trademark? Read this article till the end to understand the benefits of the registration.
1. Confers Exclusive Rights:
A registered trademark owner gets exclusive rights over the mark, ensuring that no one apart from the owner can use the registered mark or any mark which is deceptively similar to the registered mark. They always have the upper hand in any infringement suits, and the judges are more inclined towards registered trademarks.
2. Builds trust and goodwill:
They say one has to pay to gain loyalty- that’s what we do in a trademark. With a registered trademark comes a substantial, loyal customer base. It attracts the customers to the brand and retains them. It builds trust and goodwill of the business and is definitely an asset to the business.
3. Differentiates product from the competitors:
A unique brand mark distinguishes your product from your competitor’s products. It acts as a differentiation factor for the products. It avoids confusion in the public’s minds concerning brands, reputation, and goodwill of the business.
4. Identify product quality:
It is a general practice that a customer will decide the quality of the product even before using it based on the brand it is manufactured in. So having a trademark for the brand will directly imply that the product is of the topmost quality, which will help attract new customers.
5. Creation of Asset:
Registration of a Trademark creates an intangible asset, i.e., Intellectual Property for an organization. Once a trademark is registered, we can assign it, license it, or transfer it for a royalty fee, which adds an advantage to the business.
6. Protection against infringement:
This is the primary and fundamental benefit registration of a trademark will give you. You can sue anyone who tries to infringe your mark. It gives your mark legal protection from unauthorized usage or undue third party advantage.
7. Protection for 10 Years at low cost:
Once registered, you get the protection for 10 long years, and you pay a minimum amount. It basically means less investment and more benefit. It can also be renewed before the expiry of 10 years, and renewal fees are also very affordable.
8. Global Trademark Registration:
If someone wants to register the trademark abroad, India’s trademark can be used as proof of registration.