Trademark benefits: How can a trademark become a critical asset for your business?

 tA distinct and strong trademark goes a long way in adding value to your brand. It becomes your long term IP asset. However, when we speak of the trademark registration process, there are some important aspects that need attention. If you are a small business entity, trademark registration costs may also become an important consideration. Below are some points that would come in handy in the process.

Trademark benefits

Understanding the trademark registration process:

To enjoy the benefits of trademark, you need to understand the process of trademark registration. Following are the steps involved in the process:

  • Selection of a mark
  • Classification of goods or services
  • Searching the trademark office records
  • Filing the Trademark application
  • Responding to objections from the trademark office
  • Advertisement in the trademark journal
  • Managing opposition by third parties
  • Registration
  • Maintenance or Renewal

The above steps may require professional assistance. Taking the help of a trademark expert will not only help to make the process smoother but will also give you a better idea of the trademark registration cost. The last step in the trademark registration process is the renewal of the trademark. So before you create an assumption that once registered, there is no limit on the validity of a trademark, let’s stop you. A trademark is valid for 10 years and needs to be renewed every 10 years after paying a renewal fee. It grants another 10 years of protection to your trademark rights.

Worry less about the trademark registration cost; it’s more important to have a strong trademark.

A trademark expert will give you a good idea of trademark registration cost or any rebate you may be entitled to, depending on the category of applicant you fall under. However, before you jump to getting your brand name/ mark registered, it is important to ensure that your proposed name will form a strong trademark. It is best to avoid descriptive and long names. Short, fancy and distinctive names are always stronger. If you are seeking help of an expert, you could be guided in this regard. But you can go ahead and file the application on your own.

As per the government website www.ipindia.nic.in , ‘any person, claiming to be the proprietor of a trademark used or proposed to be used by him, may apply in writing in prescribed manner for registration. The application should contain the trademark, the goods/services, name and address of applicant and agent (if any) with power of attorney, the period of use of the mark. The application should be in English or Hindi.’ So if you are thinking of filing the application all by your own, make sure your mark doesn’t fail the distinctiveness criteria and is not being used by some other entity in the market. After all it’s not just about applying for the trademark; it’s more about getting it registered and enjoying the trademark benefits that come with it.

Trademark Benefits

Leveraging the trademark benefits:

Builds trust and Goodwill: Once your trademark is registered, you are the rightful owner of your brand. Your trademark is becomes your identity and serves as the status symbol of your brand. It wards of any confusion in the as no other entity is likely to have a brand named same as yours in the market.

Also, the more credible the brand image, the stronger is the trademark. People identity the quality of your product and services through your registered trademark and this establishes trust and goodwill among the customers in market. It helps create your loyal customers who believe in your brand through generations and your trademark acts like a stamp of trust for them.

Creation of AssetYour trademark is certainly an important IP asset. Though intangible, this asset becomes more valuable and important than your tangible assets, as your business grows.

Creation of AssetYour trademark is certainly an important IP asset. Though intangible, this asset becomes more valuable and important than your tangible assets, as your business grows.

Creation of AssetYour trademark is certainly an important IP asset. Though intangible, this asset becomes more valuable and important than your tangible assets, as your business grows.

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