A trademark means any symbol, word, name, device, numerals or combination of both, which distinguishes the goods and services of one company/business from goods or services of another business.
A good trademark should be easy to speak and remember while maintaining its uniqueness and distinctive character. The decision of a consumer approaching for purchasing any goods or hiring services are highly influenced by the brand value and reputation a Brand Name holds.
Any brand owner should be aware of what benefits a trademark registration offers. If your brand name aims at commercialization in the long run, you should think about getting your trademark registered. The many benefits that you can achieve by trademarking your brand name are:
- Legal ownership of the mark
A trademark registration provides you with a legal representation and ownership of your mark wherein you are declared the rightful and exclusive owner of the brand name.
- Legal action against infringers
Even though unregistered trademarks that are used in connection with the sale of goods or services may have some legal protection, the burden of proof is much higher should someone copy or infringe upon your creation. Having a registered trademark on file gives the business owner additional protections, including presumed ownership, and diminishes the burden of proof i.e. the long hassle of proving ownership of the mark in the court of law.
- Creation of an intangible asset
Registration of your trademark creates an intangible asset i.e. Intellectual Property for your business. A registered trademark is an exclusive legal right which can be sold, assigned, franchised or commercially contracted.
- Your trademark will appear in searches, which serves as notice of your rights
Registering the trademark ensures that other companies will not have a similar trademark, and gives your company exclusive rights to operate and market under that trademark.
- The ability to block imported goods from using your mark
Your trademark could also provide the right to legal action against anyone that infringes upon it. A registered trademark can be enrolled with the national customs authority which will ensure no counterfeit goods are imported in your country.
- An easier path to international trademark rights
If you would like to extend your protection beyond the national borders, then an already registered mark can help you get a foreign trademark registration.
- Use of the ® registered trademark symbol
You can use the ® symbol to indicate that you have a registered trademark and that serves as a warning signal for the infringers.
When should one register their trademark or company name?
Many people ask, “When is the right time to register a Trademark?” The answer is: as soon as possible, for the reasons stated above. Most business owners start to explore the trademark process before even forming the company. It can become quite costly in legal fees to have to amend the company name, should you accidentally infringe upon someone else’s registered trademark. Finding an exclusive and interesting brand name should be the topmost priority for new entrepreneurs.
Trademarking your business name can also help you build brand recognition and strengthen your brand’s reputation. You will build credibility among your followers and prospects, and help convince others (especially your competitors) that your business is original and valuable, and shouldn’t be copied or used without your permission.
For more information on trademarks, please contact us at – [email protected]