A Trademark is a kind of Intellectual Property Protection. Trademark discriminate various goods and services by providing a brand name to them in the marketplace. This automatically connects a quality value to all the goods. The process for applying for the trademark registration is lengthy and it requires application attached with all the necessary documents to get the benefits of trademark registration.
Benefits of Trademark Registration
There are several benefits of Trademark Registration in India. They are as follows-
The owner of the registered trademark has the exclusive power and rights over it. The person can utilize the same for their benefits for all the goods that falls under the Trademark Class as prescribed in the application. The owner enjoys the benefits of prosecution when they feel that the same has faced infringement.
The trademark apparently builds the trust and reputation of the goods and services associated with it. The customers tend to understand the implication of the quality linked with the trademark. This makes them more dedicated to the business. The trademark makes sure a unique identity to the company in the sense that the consumers can trust the goods and services provided by the company.
Trademark offers a brand name to the goods and services linked with the same. It gives distinctiveness to the company that is special and can’t be used by any other business. The logo expresses the company’s vision and the quality of the goods it supplies. The goods delineation feature is very important in a market where competition exists.
As the trademark offers identity to the goods and services, the consumers relate the brand name or the trademark with the features of goods it offers. It becomes a measure of quality and the customers start to compare the value of several linked goods with the name or logo. The quality plays a very significant role in determining which items succeed in the market. It becomes a mark for the quality of goods as well as services.
Asset to the Organization
The registered and enrolled trademark enjoys the opportunity of distinctiveness and cannot be used or managed by any other organization. It invites customers who perceive its name and its quality. The registration allows the right of prosecution against the party for the infringement of any registered trademark. A lot of organization has invested a significant amount of funds in the creation of Intellectual Property for the business which in return alters to intangible asset for the business.
The registered mark can be presented as a symbol for the organization. No other association can use the same to differentiate the goods and services. In case when other association uses any registered mark, the symbol gives the right to the owner to exercise his liberties in the court. A symbol gets stored in mind of the customers easily & the advertisement of the product becomes easier.
The symbol of the registered trademark gives exclusive rights to the owner and if it is used by any third party without required permission of the owner, the owner can sue the party in court implementing the rights of action against violation. The Trademark Act, 1999 presents this right to the owner of the trademark. Any party, who thinks that their trademark is used without the permission of the concerned owner, can represent its arguments in the session of court against the infringement.
The trademark registered in India can also be further registered in different nations internationally. For the application to be registered outside India, application along with recognized goodwill in India has to be presented.
Attracts Human Resource
Young talents want to work in the well-known company. The name of the company is recognized by the trademark and it attracts good human resource. Human resource is one of the most vital raw materials of the company. The trademark attracts young and better human resource and also persuades the present reserve of human resource to work for the growth of the corporation.
Initiatives Taken by Indian Government for benefits of Trademark Registration
Various measures have been taken to make sure continuous and endless improvement of the Intellectual property network in India. To ensure outcome of this, Department of Industrial Policy and Planning, Ministry of Commerce & Industry, Government of India, has prepared a multi-purpose strategy to expand Intellectual Property administration in India. It is to promote creativity and development the culture of respect for innovations and creativity.
The Intellectual Property Office has been fundamentally transformed through various initiatives that have contributed tremendously in easing the right to use the Intellectual Property System, efficiency in processing IP application, consistency and uniformity in the inspection of applications.
Precision and distribution of information related to Intellectual Property, Numerous measures have been taken to create a strong and vibrant regime in India.
The initiatives taken by Indian government for benefits of trademark registration are as follows-
Transparency and Distribution of Information
The official website offers vast information related to patent, trademark, design and geographical indication. The genuine time status of intellectual property applications with complete file wrapper and E-registrations are now open to the public, provided that a strong tool to the public can be an integral part of the intellectual property system. An inventive tool that shows the stock and flow of patent and trademark application at every stage of its processing, has accompanied in transparency.
Modernization of Administration
The intellectual property system embarked its E-Journey by introducing complete E-Processing of Patents and Trademarks applications through specialized elements. To provide the immense flow of the applications filed, a single central server at IPO in Delhi will be administered.
India has a unique intellectual property office where there are 4 patent offices and 5 trademark offices. There is need for strong intra-office connectivity. The system is unique because there is automatic generation of application numbers and automatic allocation of the request for inspection which is chronological and transparent and easy to use.
Fee Concession for MSME
MSMEs accounts for 45% of total industrial manufacture and the total input of MSMEs to India’s GDP is around 38%. To support them & to innovate and seek protection for their development, a total of 50 % fee reduction has been provided for MSME sector in India by the government.
Recruitment is underway in the IPO. Patent and Trademarks examiners are taken on contract to deal with the backlog.
The operationalization of the Madrid protocol for global protection of trademark offers the user the facility of protecting the trademark in variety of countries by filing a single application at the Trademark Registry, India.
The trademark apparently builds the trust and reputation of the goods and services associated with it. The registered mark can be presented as a symbol for the organization. No other association can use the same to differentiate the goods and services. In case when other association uses any registered mark, the symbol gives the right to the owner to exercise his liberties in the court.