What is trademark and its benefits?

 

TRADEMARK AND ITS BENEFITS

Trademark is a recognizable sign that differentiate goods or services of one business from other. In India The trademark is governed by the Trade Marks Act, 1999, and administered by the Office of the Controller General of Patents, Designs and Trademarks (CGPDTM), the duty of CGPDTM is to   register and maintain the trademarks in India.

Any person who want to register a trademark in India need to make an application in prescribed format with the CGPDTM, specifying the mark, the goods or services for which it is to be used, and the class or classes of goods or services to which it pertains. After receiving the application the CGPDTM will examine the mark meets the requirements which is required to get registered.

After examination the Trademark the CGPDTM is satisfied that all the requirements are met out by the applicant then it will approved the trademark and after approval it will be treated as registered, the owner has exclusive rights to use the mark in connection with the goods or services for which it is registered, and can prevent others from using a similar mark that may cause confusion among consumers. The registration of a trademark in India is valid for 10 years from the date of filing and can be renewed for successive periods of 10 years.

It is very much necessary to get registered Trademark to protect your  intellectual property and ensuring brand recognition and value for businesses operating in India. 

BENEFITS OF TRADEMARK

Trademark Registration can provide several benefits to a business, including: 

Legal protection: A business having a registered trademark provides legal protection against any infringement by others. The owner has rights to take legal action against any unauthorized use of the trademark, which can result in damages, injunctions, and even criminal charges. 

Brand recognition: Registration of a trademark helps business to establish brand recognition and brand value. It makes a unique identity for a business. Customers can easily recognize and remember the business and its products or services.

Exclusive rights: The owner has exclusive rights to use the mark in connection with the goods or services once a trademark is registered. A registered trademark gives the owner legal protection against any infringement by others. 

Business expansion: A business having a registered trademark can be licensed or franchised to other businesses, providing a source of revenue for the owner and also helps to expand the business by creating a reputation for quality and reliability.

Increased credibility: A business having a registered trademark can increase the credibility of a business, especially in the eyes of investors, partners, and customers

Finally, a registered trademark provides numbers of benefits to a business, including legal protection, brand recognition, and increased credibility, which can help to increase the value and success of the business.

CA KHALID REHMAN

(M.Com, Chartered Accountant)

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