WHY a Registered Trademark in INDIA
Building a strong brand always provides numerous financial rewards to the businesses, and has become a top priority for many organisations. It’s interesting how most industries have used their Trademark in the development of their brand over the decades.
Branding influences the purchasing decisions of Consumers based on the reputation such Brands represent. Your TRADEMARK conveys everything you stand for, your message, your goals and your experience. Your trademark doesn’t need to be a word. Designs can be recognized regardless of language or alphabet. The Nike “Swoosh” design is recognized globally, regardless of whether the native language is Swahili, Chinese, Spanish, Russian, Arabic or English. But all this is futile fi you have not protected your Brand legally.
For a modest cost, registering a trade mark protects your investment in that mark. It is the single most investment which can be most beneficial for your organisation.
If you don't register your trade mark, then someone else can. This immediately puts your business and any product or service development you are undertaking at risk. Securing a registered trademark protects your brand, and provides you with the tools to prevent someone using similar signs and riding off the back of your business. If you do not protect your trademark by registering it, then you may find you are legally prevented from expanding your business. With your brand registered, you are within your rights to take actions against parties who have attempted to register conflicting trademarks, or are operating with conflicting brands and damaging your business.
As your product or service becomes successful, the trademark itself starts to develop an intrinsic value. Business investors will assess whether you have taken the appropriate legal trademark protection to secure your brand.
So coming back to the question………….
Why register a trademark.
You gain the exclusive right to use the trade mark.
2. Legal Protection:
The legal protection for a registered trade mark will deter others from trying to imitate your brand or benefit from its success. By registering your trademark you are effectively building a barrier to entry around your brand, making it harder for other businesses and competitors to imitate you.
A registered trade mark adds value to your business in the form of ‘goodwill’ that can increase substantially over time as the mark becomes established in the market.
4. Asset Advantage:
As your registered and protected property, you can sell or assign the trade mark to another person or business, or license its use to other parties
5. Avoiding Unwelcome Change
Changing the name of a company can be a difficult and costly task. Having successfully created a good reputation for your business, it can take significant marketing efforts to rebuild a renamed brand. When a logo, symbol or name is unregistered there is always the risk that another business may register it and cause significant difficulties, perhaps by attempting to prevent your business from operating or expanding under its current identity
6. Building value
Because of the above, potential investors will always be interested in whether a business has trademarked its name, key products or services. Trademark registration not only increases security, but also aids clarity in any merger or franchising of the business, positively impacting its perceived value.
There are two key considerations. Firstly, that your business is appropriately protected in the countries it operates or intends to operate in, and secondly, that your business is protected in all of the classes of service or products it provides
What if you don’t register Your Trademark in India?
You are not legally required to register your trade mark to use it. However, by not registering your mark you stand to lose out on the legal protection and other benefits listed above. An unregistered mark is also harder to protect because you must rely on the Common Law procedures. Such actions can be more difficult to prove and can involve lengthy and costly litigation.
By contrast, registering a trade mark gives you a monopoly under the Trade Marks Act 1999. With stronger legal protection, you can sue for infringement if someone else uses the same or a ‘confusingly similar’ mark for the same or similar goods or services in which the mark is registered.