A Trademark can be any name, word, symbol, slogan, or device that serves to both identify and distinguish a business or product from others in the market. Once you have trademarked your business, if someone else makes an attempt to use something similar enough to confuse customers, you have the right to legally protect yourself and stop the other party. Trademark registration has various benefits in India:
Trademark Registration is an Asset
A trademark is an intangible asset to business that adds value to it. It differentiates the product or service from the competitors prevailing in the market. Trademark can resemble with the brand as they attract the customer, stands apart, easily identifiable from the rest of the others. Trademark is a marketing tool for your business. A trademark is a sign of commitment to the company, reputation, and integrity that helps the consumer in purchasing decisions. Like in real estate business, the value of asset appreciates over a period of time.
Trademark registration in India is relatively cheap. Once, the application for registration of a trademark is filed it would take around 6 months to 2 years to process the application and grant the certificate depending on the government processing. The application that came first will be given priority over the others filed after it.
Trademark Registration is valid for 10 Years
Once, the Trademark registration is done, it will be valid for the next 10 years. In between these 10 years, no legal obligations, no fees and other statutory requirement regarding maintain trademarks to be done. Also just before the expiry of a trademark certificate, it can be renewed and the owner can protect the trademark by the third party.
Protects against Unfair Competition
Trademark registration can be used as an effective weapon against unfair competition. Today the marketplace is filled with copycats and counterfeiters who exploit unscrupulously used brand names for their own benefits. A registered trademark is an effective deterrent against such unfair competition.