Importance of Trademark Registration in India

Trademark registration helps in reaping the owner of the brand's several benefits. Getting one’s trademark or other intellectual properties registered should be a top priority for every person. The reason for that is if any other company or person takes that same name and successfully creates goodwill in the market, therefore, that company or person will take away all the exclusive rights over that mark.

A trademark plays a crucial role in establishing any business and making goodwill in the market. It becomes the identity of one’s business in the market, and consumers start associating the trademark as the origin of your goods or services. For instance, many consumers in the market must not be aware of the name of the founders of the brand Nike, but everyone is aware of its logo (trademark). A trademark not only helps the brand promote its goods or services but also talks about its products’ quality. 
 
Who would like to lose rights over such an important aspect of one’s own business! Anyone who would love to have exclusive rights over their trademarks needs to register them as soon as possible. There are numerous benefits one can have after registration, and in this article, we will be talking about why one should not take trademark registration lightly. 

What is a Trademark?

A trademark can be defined as a brand or a logo that a person uses to distinguish their products or services from their competitors. The term Trademark is used as a legal term for intellectual property.
 
In layman’s language, a Trademark can be any name, word, phrase, logo, symbol, design, image, or a combination of these elements, which is acting as an identity of the owner in the market. 

What is Trademark Registration?

Trademark Registration is a legal procedure described under the Trade Marks Act, 1999. Once a trademark is registered, no one can use it without the owner's prior permission. 
 
So now the question arises: when is this trademark registration process required? It is required to protect the authenticity and quality of goods or services in the market. It should not be taken lightly and must be done as soon as possible without delays. 

Why is Trademark Registration important?

• Exclusive individual rights over a trademark to utilize, distribute or assign it.
• Legal protection against the fake and fraudulent products along with the right to sue the infringers.
• Protects the authenticity and quality check of concerning goods and services.
• Acts as an identity of your business amongst the customer. 
• It creates an intangible asset for the owner.
• It can be transferred, sold, or franchised.
• Protects trust and goodwill in the market.
• Protects the loyalty of its customers. 
• A Trademark protects your brand.
• Acts as a tool preventing everyone from riding on the back of one’s business goodwill.
• Protects Uniqueness of brands
• Speaks for its brand and attracts customers. A registered trademark can always easily identify which brand your product belongs to. For instance, anyone can easily identify any gadget with a silver-colored half-bitten apple, be it a laptop or a phone, belonging to the brand Apple. 
• Low maintainable: Registered trademark needs low maintenance. Once a trademark is registered, it will remain valid for the next 10 years, and even after that, one can renew it by paying a professional fee of Rs. 9,000. 
• A registered trademark makes an identity of a brand that remains with it forever.

Conclusion:

Trademark Registration is a vital part of everyone’s business that should not be delayed and neglected. It provides an exclusive right over the mark to the owner. Further, it helps distinguish the owner’s product or services from other similar products or services belonging to other competitors. Trademark acts as an intangible asset for every owner and protects the brand's goodwill in the market for uncountable times. In a dynamic market like India's, a brand needs to protect and safeguard its intellectual properties. Hence, it is always better to act rather than repent over things later.