Trademark is a word, design, mark, phrase, a symbol for a business that marks the identity for a specific product or commodity of the business. A trademark is a unique differentiator of a business and its products that cater to the need of both identifying and distinguishing your business or product from that of others in the market. When you have a trademark for your business, no one can attempt to use your firm’s name or symbol or anything similar to confuse customers and if such an act is done, you can legally protect yourself against it as you will have legal recourse to stop it and protect your business from counterfeit products.
Nowadays the New Trademark Registration Online India is easy. The process of new online trademark registration is quick and convenient than ever before but before all this, it should be taken care of that the trademark chosen by a business must be distinctively unique and useful in commerce and trade to be eligible for a trademark. There are mainly four different categories of distinctiveness for trademarks - descriptive, suggestive, arbitrary and generic.
Suggestive and arbitrary marks’ eligibility is determined on a first come first serve basis, i.e., the person or business who registers first gets it and therefore are inherently distinctive. Descriptive marks or personal names must have an established secondary meaning in consumers' minds to be approved. And lastly, as far as generic is concerned, you can’t trademark a generic term.
Why Trademark Registration is important for running a business?
Businesses must understand why New Trademark Registration Online India is important for running the business and the kind of impact trademarks have and why they are the important assets that help the business grow, also what exactly is the process of new online trademark registration. It is not compulsory rather useful for oneself to get his/her business trademarked or register the business’s name as a trademark. Following are the reasons for the same -
Trademarks represent a brand’s reputation & influence consumers’ purchasing decisions -
Trademark is one of the ways of referring to any particular brand. Many banks don’t allow opening a business account under the business name if it is not trademarked. And so trademarking also gives you legal ownership in specific places and locations, be it a local, state, or nationwide and you can retain exclusive rights to mark your products, with no one else being allowed to use your brand symbol, name, or slogan.
Trademarks are an effective & efficient communication tool -
With the help of a single brand or logo, trademarks convey all the intellectual and emotional attributes and messages about a business, its work, reputation, products, and services. Trademark need not to be a word, any pattern or designs can be recognized regardless of language or alphabet. Example- Nike, puma, etc.
Trademarks make your products easily recognizable for customers to find -
The marketplace is crowded and with so many competitors in the industry, it is hard to distinguish your business and its products from that of others. Here, trademarks act as an efficient commercial communication tool capturing customer attention making your business stand out.
Trademarks are a valuable intangible asset -
Trademarks can appreciate over time, the same as goodwill. The more your business goodwill grow, the more valuable and preferred your brand will be in providing value beyond your core business.
Help businesses utilize the internet effectively and grow through social media -
While searching for products and services on social media platforms, the customer finds out a business’ product by its brand name or logo or any significant symbol. Higher traffic on a website or social media platform brings higher rankings leading to more customers and more brand recognition.
Trademarks never expire -
Some of the most recognized names have been around for over a hundred years like Mercedes, Adidas, BMW, Pepsi-Cola, etc. They have acquired their trademarks back then which were unique and since then they have their goodwill in the market and are all recognizable by their respective trademarks in the industry.
Provides inexpensive protection to business -
Except for initial costs, a trademark only needs to be renewed within six months from the date of expiry of ten years after its registration. The input amount in the Process of new online trademark registration is quite less as compared to the ample of benefits it provides.
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