In today's extremely competitive business market, you must have legal permission to own it if you possess something. Intellectual property (IP), which refers to intangible creations of the human intellect, must be registered in the form of a trademark, patent, copyright, industrial design, or geographical indication to ensure that illegal or unlawful people do not have the power to copy or represent your valuable assets.
Everyone deals with trademarks regularly, even if they aren't aware of them. Trademark and the reputation that such brands represent have an impact on consumer purchase decisions. Business owners must understand why trademark registration is a valuable asset that may help them build their company.
First, we have to understand what a trademark really is.
In today's extremely competitive business market, you must have legal permission to own it if you possess something. Intellectual property (IP), which refers to intangible creations of the human intellect, must be registered in the form of a trademark, patent, copyright, industrial design, or geographical indication to ensure that illegal or unlawful people do not have the power to copy or represent your valuable assets.
Everyone deals with trademarks regularly, even if they aren't aware of them. Trademark and the reputation that such brands represent have an impact on consumer purchase decisions. Business owners must understand why trademark registration is a valuable asset that may help them build their company.
First, we have to understand what a trademark really is.
TRADEMARK! WHAT'S THAT?
In common language, a Trade Mark is a source identifier for the Public to identify a product or service. The functioning of a Trademark is a concept which is used by many of us on daily basis without knowing the fact that the same is working in identification of a product and service. For example, Trade mark Law works when a person easily picks its choice of product from a super market among various others. It works for public in identification as well as for brand owners to get benefits of their hard work, time and efforts invested in the creation of the product or service. A product without its name is lost and cannot be easily found in the markets. Therefore, each product and service has been given a unique name which is called Trade Mark.
NOW! WHAT CAN BE A TRADE MARK?
The basic qualification of a good Trade mark is simple as that it has to be unique and capable of differentiating between one to another. The words which are common in industry and those other traders can adopt in course of their business cannot be a good option to adopt. The Trade mark law in India is governed by Trade Mark Act, 1999 and Trade Mark Rules, 2017. The section 2 (M) of the Trademark Act, 1999 provide very broad definition of about a trademark, the same reads as below:-
“MARK” INCLUDES A DEVICE, BRAND, HEADING, LABEL, TICKET, NAME, SIGNATURE, WORD, LETTER, NUMERAL, SHAPE OF GOODS, PACKAGING OR COMBINATION OF COLOURS OR ANY COMBINATION THEREOF.
The further clarification has been given in Section 2(1) (Zb) of the Trademark Act, 1999 as below:-
“Trade Mark” Means A Mark Capable Of Being Represented Graphically And Which Is Capable Of Distinguishing The Goods Or Services Of One Person From Those Of Others And May Include Shape Of Goods, Their Packaging And Combination Of Colours; And—
The above is self explanatory that a trademark can be anything subject to that it is graphically represented, unique in nature and capable of differentiating from the others.
10 REASONS WHY TRADEMARK REGISTRATION IS IMPORTANT FOR BUSINESS!
- Trademark Works as an Intermediate
- Protects you from Legalities
- Helps you Spread your Business
- Compliments your Products
- Lifetime Ownership
- Helps in e-selling and Government department
- Protects your Reputation in the Market
- Registered Trademark is a Valuable Asset
- Builds an Atmosphere of Autonomy
- Financial Benefits
FINAL WORDS
When starting a business, registering a trademark should be a top priority. It will safeguard a business from the start, ensuring its long-term prosperity. It is critical to protect a startup from the outset to acquire a competitive edge and avoid financial loss in the future.
We can't see any reason why you should not get your trademark registered, can you? Do let us know your thoughts in the comment section below.
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