10 Reasons To Trademark Your Brand Name.

In todays world of business and competition, the protection of one’s brand is very imperative. The brand name is the representation of what each business intends to convey to the world. And, thereby the importance of Trademark Registration comes to play. A trademark is an identity card of a business, where the particular brand’s product or service provided is identified. It carves a unique niche for the business.

1. Efficient tool towards business growth

Trademarks assists the consumers to recognize and also differentiate between similar brands /services of competitors. Marketing, promoting and building a brand is always the key strategy for most businesses. But , its time we realize ,for all the aforesaid to happen ,the protection of the brand is very pivotal .Trademark registration should be the foremost tool to be considered in a prudent business model .

2. Exclusive legal right over the brand

Most entrepreneurs market their business venture by utilizing various logos, slogans, titles etc. this is mainly to create a mark in the market. Unfortunately, if these aren’t protected, other firms or competitors are free to use, copy, imitate and infringe them leading to a great loss and adversely affecting the brand name. An absence of legal protection, will give other business entities, an opportunity to rob away the goodwill accredited to the business. The trademark registration gives a monopoly over the brand name associated to the business.

3. Trademark is an enduring asset

A trademark is an intangible asset, which can be transferred, licensed and even assigned. It is one of the few assets that can provide you with a long-term competitive advantage.

4. Allows businesses to effectively use the internet.

Trademarks, being the brand identity of a business, are often the most spontaneously searched articles on the internet by any user seeking information about the business and its product or services. A higher traffic on your business website will in turn result into a top rank on search engine results, which in turn helps market the brand effortlessly.

5. Trademarks exists indefinitely.

Once registered, the trademark is protected for a term of 10 years which can be renewed indefinitely by filing the required renewal forms along with the prescribed fees.

6. A shield against infringement and unfair competition.

A Trademark Registration is a protection to the brand against any misuse, infringement or imitation. Each brand is formulated with much diligence and its growth is every entrepreneur’s focus point. It is an expected fact that competitors may indulge in infringement. Once an application is made to the Registry, legal measures can be availed in situations of misuse. Today the market is filled with copycats and counterfeiters for their own benefits. Under Trademark Laws, remedies are available to the owner of the trademark for unauthorized use of his or her mark or its imitation by a third party.

7.Protects investment in advertising and branding.

Todays competitive markets have made advertising and branding a must try. The entrepreneur establishes a business as well as a brand name by pooling in his innovation and ideas through various advertisements and marketing strategies. At times, these require investment at a large scale. By trademarking the brand, whatever amount has been spent would be of great value. The legal protection obtained through registration would make all the investments made, truly worthy!

8. Acts as a basis for international trademark application.

A Trademark Registration in India would benefit in the International registration in future.On registering the trademark in India, one can proceed for international registration through World Intellectual Property Organization’s [WIPO] Madrid protocol route. Indian being a member of WIPO, facilitates designating all or some of the members of the Madrid Union for wherever (countries) mark is to be protected.  Centralized filing of the trade mark under the Madrid Protocol offers many advantages: one needn’t file separate applications in many countries, drafted in different languages, pay fees in different currencies, hire the services of local representatives and follow different procedures in each of those countries. Instead, a single international application online on the IP India website, in a single language (English), pay fees in a single currency (Swiss francs), and the application has effects in all the Madrid Union members of interest.

9. Effective communication tool.

A trademark supports the business to stand apart from the crowd, capture the customer’s attention easily and help prevent confusion in the market. Moreover, a TM sign is always deemed by the public as, an indication of quality, trust and good service. A trademark wraps up in a single brand or logo, the attributes of the company reputation, product and services.

10. Creates a sound name and face value among the competitors and general public.

A trademark is both your business identity and an important part of your marketing strategy. Having a registered trademark increases the credibility of your business in the market and among the general public. It increases the standard of your brand.

Conclusion

By way of conclusion, it can be comprehended that, Trademark Registration is an essential “to do" element in the Development of a brand and the business eventually!