A trademark is a visual symbol, which may be a word, name, device, label or numerals used by a business to distinguish it goods or services from other similar goods or services originating from a different business. A registered trademark is an intangible asset or intellectual property for a business and is used to protect the company’s investment in the brand or symbol. A trademark is registrable if it is distinctive for the goods and services you provide. Proposed trademarks that are similar or identical to an existing registered trademark cannot be registered. Also, trademarks are not registrable if it is offensive, generic, deceptive, not distinctive, contains specially protected emblems, etc.,
Trademarks in India are registered by the Controller General of Patents Designs and Trademarks, Ministry of Commerce and Industry, Government of India. Trademarks are registered under the Trademark Act, 1999 and provide the trademark owner with a right to sue for damages when infringements of trademarks occur. Once a trademark is registered, R symbol can be used and the registration will be valid for 10 years. Registered trademarks nearing expiry can be easily renewed by filing a trademark renewal application for a period of another 10 years.
Reasons to Register a Trademark
Trademark filing will help establish a unique identity and brand for your goods or services. Competitors will not be allowed to use your trademark for similar goods or services.
Trust or Goodwill
Registered trademarks can be used to create a sense of trust, goodwill and quality in the minds of your customer that is unique to your business. Registered trademarks show your customer that you care about your brand.
Creation of Asset
Trademark filing creates an intellectual property, which is an intangible asset for an organization. Registered trademark is a right that can be sold, franchised or commercially contracted.