BENEFITS & IMPORTANCE OF TRADEMARK REGISTRATION FOR ENTRPRENEURS

In the era of competitive global marketing, Trademark registration is considered as the most important piece of the company’s intellectual property. Trademark is considered as a boon in the hands of the producers or the service providers. Trademark is the tool by which these producers or the service providers create their unique identity to show their presence in and outside India. It is at the same time becoming vulnerable to copy by their competitors. So it is vital for the proprietor of the business including both the producers and the service providers that they register their trademark, hence, to be known as ‘Registered Trademark’.

The Registered trademark has many usages which serve their Proprietors in many ways:

• Advertisement and Branding of the products and services has become a tool to highlight the product in the competitive market between the competitors and the consumers. The non-registration of the trademark will result in claiming the product and services by any other entity. Therefore, it becomes necessary to register a trademark and showing their prior presence in the market.

• The registration of the trademark gives the exclusive right to the owner over the registered trademark. This authorizes the proprietor of the registered trademark to prevent others from the unauthorized use of the Trademark by others. The proprietor of the registered trademark, in such cases, retains the right to sue the unauthorized trademark user.

• The registration of the trademark is the prima-facie evidence of the ownership of the trademark. In case of any dispute, the registration of the trademark serves as the very first option on which the Intellectual Property Appellate Board or the Court shall rely for confirming the right owner of the trademark in dispute.

• The registration of the trademarks help in preventing unfair competition between the different proprietors (the producers and the service providers) who uses the consumers to confuse and get more businesses from them. The registration of trademarks helps consumers in distinguishing products from each other which are deceptively similar. The registered trademark helps in protecting the owner’s investment and reputation.

• The registered trademark becomes an important asset for every company or business. It further helps in contributing by generating goodwill in the market between the consumers.

• Every consumer recognizes the established product and services through the trademark. It establishes trust and goodwill among the customers in the market. It also gives identity to the quality of the product. This brings the opportunity to the owners in creating their unique identity in this competitive market.

• The registration of the trademark is the availability of the opportunity a very low cost against the whole competitive market. The trademark registration has a very low maintainability cost which gives protection to the proprietors for the 10 years.

• The registered trademark can be sold, assigned, franchised or economically contracted. This gives the economic privilege to the proprietor of the registered trademark.

• The trademark owner can use the symbol of the TM, SM, or R to give enough notice to the public, further leading the legal protection.