With the enactment of the Company Act 2013, trademark registration has become increasingly important for businesses. A growing awareness of intellectual property and trademarks results in more than a thousand new “marks” being registered every year. New company names are not permitted to be similar to trademarks registered under the Company Act of 2013. Whenever a new business entity is established, trademark registration is very important. If you want a trademark registration then you can connect with the trademark registration in Pune.
This article sought to provide insight into the benefits of trademark registration of a business name in India.
The benefits of trademark registration are as follows:
The registration of trademarks is a valuable asset
Trademarks are intangible assets that add value to businesses. It is a method of distinguishing products from competitors. Brand names can be similar to trademarks in that they attract customers, stand out from the competition, and are easily recognizable. Brand names can be an important tool for promoting your business. Consumers rely on brands to make informed buying decisions because they represent an organization’s commitment, reputation, and integrity. Like in the real estate industry, assets need a period of time to appreciate in value. The value of a trademark also increases exponentially with the growth of a business. In addition to being tangible assets, trademarks are assets that can be bought, sold, or used to secure credit from financial institutions. Protecting these valuable assets is therefore imperative for every business.
Ten years are allowed for trademark registrations
Once a trademark is registered, it will remain in effect for at least 10 years. The maintenance of trademarks between these ten years is not subject to any statutory requirements, fees, or legal obligations. A Trademark Registration Office in Pune can also be renewed just before it expires, and you can provide it to a third party for protection. It is much cheaper to register a trademark long-term than to register a domain, and it will remain effective forever.
It is possible to enforce trademark registrations against a company’s name
When a company’s name is the same or similar to a registered trademark, the company cannot use the registered trademark as its name. Names that the company intends to use in the future can be blocked using this provision. The name of an organization cannot be the same as or similar to the name of a trademark. The name of a company cannot be the same as the name of a trademark, since trademarks are registered and registered companies cannot have a similar name. The Companies Act, of 2013 provides entrepreneurs with the opportunity to prevent the use of a business name they intend to use in the future. Additionally, existing business owners must also register their business names as trademarks to avoid any complications in the future.
Branding and advertising investments are protected
Today’s markets are extremely competitive, making advertising and branding absolutely necessary. Various advertising mediums are used by businesses to promote their brand to consumers, including digital, print, radio, and television. Brands can be claimed by anyone if they are not trademarked. For this, it is a necessity for the beginning of advertisement campaigns.
Protects consumers from unfair competition
Registering a trademark is one way to stop unfair competition. The market today is full of copycats and counterfeiters who profit from the unscrupulous use of brand names. Make sure your trademark is protected through trademark registration. As a trademark owner, you have remedies available to you in case a third party uses or imitates your mark without your permission.
It’s Easy to Register a Trademark
Online trademark registration is faster and easier than ever before. GB Legal Associates offers online Trade mark Registration Pune.