Trademark - Importance Advantages and Disadvantages
The trademark can distinguish one person's goods or services from other goods or services, including the shape, packaging, and color combination of the goods. But, what are Trademark - Importance, Advantages and Disadvantages.
Importance of TM
1. Valuable Assets
Registered trademarks can prove to be valuable assets of your
company/enterprise. Over time, the value of these assets has increased.
As your business grows over time, the value of the brand will
automatically expand. Therefore, as your business grows, so will your brand
value.
2. Protect your brand
A registered trademark establishes ownership of a brand, name, or
logo. It can protect your brand from unauthorized use by third parties. The
registered trademark proves that the product belongs to you completely and that
you have the exclusive right to use, sell and modify the trademark or goods in
any way.
3. Give brand
uniqueness
A unique and distinctive brand must be registered because every company
needs a distinctive brand or logo. Therefore, a registered trademark gives your
brand a unique identity.
4. Convenient for
Customers
It is convenient for customers to find registered trademarks, and it is
easy for customers to find products. Since it is a powerful tool and unique
logo, it can easily track the registered trademark and, customers can easily
find your product.
5. Permanently valid
trademark
Once a trademark is registered, it is permanently valid. The trademarks
registered by each company will always be with them. Yes, trademark
registration is updated every ten years. However, the identity given to the
brand will always exist.
Advantages
1. Attracting human
resources:
Young people are eager to join big brands that act as giants. It
inspires a positive image of the organization, so candidates are easily
attracted to them. That reduces the cost of recruitment and related activities.
2. Legal infringement
protection:
Any competitor or other person shall not use the wordmark or logo that
you have registered as a trademark.
However, it is used without the consent of the trademark owner or
fraudulently used. The owner can obtain legal protection under the law and
prevent individuals from doing so.
3. Creation of
assets:
Trademark registration creates intangible assets, ie. H. The
intellectual property of an organization. A registered trademark is a right
that can be sold, transferred, franchised, or granted commercially. In
addition, a brand is an intangible asset that can bring advantages to an
organization.
4. Global trademark
registration:
For anyone willing to expand outside India, The trademark registration
and the goodwill established in the country can provide a good foundation.
5. Differentiated
products:
Unique products make it easy for customers to find your products.
It distinguishes your product and your product identity from existing
and planned competitors and serves as an effective business tool. The logo can
convey the vision, quality, or unique characteristics of your company and any
organization.
6. Product quality
approval:
Customers associate the quality of the product with the brand
name.
That helps attract new customers because they can distinguish the
quality of the product based on the logo/brand name.
Disadvantages
1. Renewal of TM
The main disadvantage of a trademark is that you have to renew it after
every ten years to maintain the registration. If you fail to pay the annual fee
may result in the removal of the trademark from the register.
2. Weakest protection
Regarding the protection of goods or services, trademark registration is
the weakest intellectual property in patents and copyrights.
Trademarks do not always protect products; they only protect fair marketing
ideas.
Therefore, the trademark should come with some other least protected
intellectual property rights.
3. Risky Litigation
Owning a registered trademark does not give you the right to use the
Internet domain name on which the trademark is based.
The extent to which similar trademarks infringe your business is the
subject of civil litigation involving related costs. Trademark registration is
the preliminary evidence in case of a dispute.
4. Marketing expenses
If you have registered a descriptive trademark, you must also have
marketing and advertising budgets to establish brand associations with
customers to obtain a unique personality.
5. Surcharge
If the renewal fee is not paid on time, the owner will lose the
protection related to trademark registration. The owner can then request the
restoration of the trademark. In addition to the trademark renewal fee, this
application must also include a trademark restoration fee.
6. Descriptive TM
There are many disadvantages to choosing descriptive TM.
Generic and descriptive trademarks are not authorized to be registered
with registrars.
Generally, descriptive trademarks are weak trademarks because they do
not have any distinctive features.
Conclusion
These are all the trademark- importance, advantages and disadvantages.
If you still have any concerns, it is advisable to consult an expert for trademark registration online and get all the advice you need.
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Trademark filing
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