As the society is evolving new rights are also evolving with them. Intellectual Property Right is one of the kinds of such rights. There are many kinds of Intellectual Property Rights, Trademark is one of them. To secure one’s business its Trademark Registration is necessary. Brand names create goodwill in the market; if you did not register that brand name anyone can come and take undue advantage of your business. Hence to provide your business and brand name extra security you must take Trademark Registration. There are several benefits of Trademark Registration; we will discuss them in the present blog one-by-one. Trademark Registration is a very easy process, but only for the professionals. Though it is an easy process it requires a lot of formalities to be done, hence it is always suggested to take the help of professionals while filing Trademark Registration form that is TM-A. There are a lot of things one must know about Trademark Registration, but here through this blog we are going to discuss only about the benefits of Trademark Registration. 

What is Trademark Registration? 

Under Trademark Act, 1999 a registered Trademark is a mark, sign or symbol which is reminiscent about a particular company or brand or business. It provides a unique identification to any business. It helps in standing differently in the market. Trademark Registration is a mark which gives sole right to the holder of the Trademark over the brand name or mark. There are several benefits of Trademark Registration like goodwill, uniqueness, reliability etc., hence it is always suggested to register your Trademark.

Benefits of Trademark Registration 

There are several benefits of Trademark Registration, given below are some of them – 

1. Trademark an Intangible Asset 

After the Company Act, 2013 Trademark has become a very important and must needed asset to any company. Although it is intangible, it is equally important as the tangible assets of the company. It attracts customers and gives a different identity to the business in the market. It is directly associated with the reputation of the business. For example, symbols of Nike, Puma, Starbucks, Zara, H & M etc. are directly associated with the reputation of the company or business. Hence it must be safe and secure.

2. Creates Goodwill 

Once your Trademark creates value in the market it automatically creates and attracts goodwill with it. And this goodwill helps in the business and growth of a company. For example, Nike, Puma, Starbucks, Zara, H & M etc. attract customers because they are well known in the market. 

3. Increase Monetary Value of the Company 

Once your Trademark creates value in the market it automatically creates and attracts more and more customers with it. And this helps in the business and growth of a company, which results in the monetary increment of the company and business.  For example, Nike, Puma, Starbucks, Zara, H & M etc. attract customers because they are well known in the market. People pay whatever price they ask just for the brand name. This is the power of Trademark. 

4. Reasonable Cost 

Trademark Registration is very cheap; hence anyone can take this and secure their brand name. Once you register your trademark nobody can use it for their business. If you want to do trademark Registration you can take help of BizAdvisors, who are cheaper than the other consultancies in the market and have a very good team of experts who can make your work easy and pocket friendly. 

5. Evidentiary Value 

If we see it with the perspective of law, one of the most important benefits of Trademark Registration is that it has evidentiary value. In case somebody tries to violate your trademark right you can sue them and your Trademark Registration will help you in the court of law. 

6. Valid for 10 Years 

Once you take it, your brand name is secured for 10-years. It will hardly take some thousands of money to excel all these benefits of Trademark Registration. For these 10-years nobody can use your trademark for the benefit of their business. It is a one-time investment which will secure your business for years. 

7. Save your Money 

Once your trademark creates value in the market, it does not need advertisement. For example, Nike, Puma, Zara, H & M etc. attract customers by their name only. Another example is Starbucks; you never saw its advertisement, because it does not do any kind of advertisement. Its coffee is way more expensive than the normal coffee even though its business is doing well, just because it has created a brand name in the market. Hence we can conclude that a trademark saves your money by not advertising. One can use this money for some other purposes and boost their business in some other way. 

8. Secures from Unfair Competition 

Today the market is filled with so many companies and businesses which are doing some sort of same business. For example MBA Chai Bala and Chai Sutta Bar. Their business is almost the same but their trademark makes them different. Trademark provides them an identity. By their trademark people differentiate them.  Trademark secures unfair trade practices, which will ultimately go to secure unfair competition in the market. 

9. Exclusive Rights to the Holder

Holder of the Trademark has exclusive rights over the registered trademark. Nobody can take his right from him without his consent. If anybody tries to do so he or she can be punished for the same as per the Trademark Act, 1999.  

10. Differentiate the Business 

If we see Starbucks it reminds us of coffee, similarly when we see MBA Chai Bala it reminds us about tea. Although there are a lot of coffee houses and tea houses in the market the above mentioned trademark remind us about some particular brands, hence it is pertinent that trademarks differentiate the business in the market. 

Conclusion 

Benefits of Trademark Registration have been discussed in detail through this blog. The purpose is to let you know about the importance of Trademark Registration. Although Company Act, 2013^[1] gave enough boosts to Trademark Registration in the market, still there are some users who are not aware about the benefits of Trademark Registration. This article is especially for those who still think Trademark Registration is a time consuming and money taking process, because frankly it is not. If you want to register your trademark and want to enjoy the benefits of Trademark Registration, but worried about filing and all, we the BizAdvisors are just one click away from you. We have a very good team of experts who can make your work easy as well as less time consuming. So what are you waiting for, just contact us and secure your business with the Trademark Registration.

Read our article:A Complete Guide on Steps Involved in Trademark Registration Process