Trademark is the key for any business around the globe. What do we mean by trademark? Simply, it is a design, phrase, word, or mark that symbolizes the identity of a certain product or commodity of a particular business. It represents the sui generis character of the product or service that a specific business is providing.
That distinguishes it from other products and gives an edge over other competitors in the market. Most businesses seem reluctant to know about its IPR (Intellectual Property Rights), thinking it is just about online logo registration. Still, the benefits and consequences of non-filing outweigh such beliefs. It can provide one of the real benefits to their business that they can extract from it if they are aware enough.
IPR contains a slew of business prerogatives; some of them are patents, copyrights, and trademark registration. Start-ups are always aiming for significant results. One way to achieve those results could be from registering their brand for a trademark that would eventually help secure (Imitating) its product from others and provide thrust for growth.
Small and medium businesses looking for fast-paced growth should acquire a trademark as their primary business right. Additionally, it enhances the chance of helping onboarded investors, providing your business dimension to enlarge valuation via the IPR portfolio.
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Setting The Seal On Exclusivity
Your licensed trademark won’t allow anybody else to use the same mark or feature you possess in your trademark. If you see someone using it anyhow, then you can legally use them for contravention. Hence, it would be reasonable to get your trademark registration to avoid any misunderstanding among the customers. It gives exclusivity and uniqueness to your brand. The value-laden effect would be on customers’ minds for a long, and they would recognize your brand for a long-time with loyalty.
Increasing Sales To Help Marketers
One always wants to stand different from others when their business grows tremendously. With globalization and internet connectivity, start-ups are now growing at faster rates across the globe. And that is why one needs something special that they can offer to customers that others are not providing. That is when a registered trademark comes to save you with its value-laden approach. Your brand would work as an eye-catcher to customers. Understanding your brand value and market, you can create a market campaign accordingly, as McDonald has created by its tagline ‘I’m loving it.’
Safeguarding Trademark and Taking Advantage Of It
If you have already registered a trademark legally, then it can ripe you many benefits. You can allow other businesses to utilize your registered mark if you like to sell your brand name through a trademark license. If someone is using it without your prior knowledge or consent, then you can sue them. Make sure that you have the punishable evidence suggesting the registration mark for the same.
Formulating Brand Identity
For creating a sole brand identity for your business, first and foremost is to get a trademark for your brand. One obvious benefit it can derive from registration is to create a brand identity for the business. Customers would find it easy to locate your products and services due to the reputation of your brand. This can help your business in associating in a certain field as well.
Enlargement Of Business
If you are in registration and getting a grant, you could use TM before your brand name products/services. Once you get it, then you can use the ® mark, indicating your product’s registration. Even if your registration is pending, you can use it for other businesses. With it, you can move from one industry to another while using the same logo. This would help attract people; if you ever want to sell it, you can put forward brand value.
Becomes The Asset Of Your Company
Once you have done the online LLP registration in India, you need to get your niche in the market, a trademark would assist you in creating a brand value. With the enhancement in brand value, the company’s credibility will also grow. Hence, it would turn into a brand identity and later to value assets for the company. You will get protection and monetized interest against potential trademark contravention. One thing to keep in mind is, your brand name has to be exclusive.
The International Influence of Your Brand
If you want to enter the international market, a trademark is a prerequisite. A good brand has its perks, especially when they choose to enter a new market. First, you have to follow local trademark registration and then doing the same where you want to enlarge, this applies to domestic traders. You must choose to get the trademark registration at a place where your company’s registered office is located. The company will be registered under the Madrid Protocol abroad once it’s done with the national process.
In conclusion
For the longer-term success of your business, registration of a trademark would a good starting point. I would provide you with the path to success. Your brand will be influential and would be able to catch attention from customers and your competitors.
