A Trade mark distinguishes the goods of one manufacture or trader from similar goods of other and therefore, it seeks to protect the interest of the consumers as well as the trader. A trade mark may consist of device depicting the picture of animals, human beings etc., words, letters, numerals, signature or any combination thereof. Since a trade mark indicates relationship in the course of trade, between trader and goods, it serves as a useful medium of advertisement for the goods and their quality. The object of trademark law is to permit an enterprise by registering its trademark to obtain an exclusive right to use, share or assign a mark. Closely related to trademarks are service marks which distinguish the service of an enterprise from the services of other enterprise.
Trade Mark Helps In Inaugurating A Brand Name
Trade mark helps consumers to distinguish your products and services from that of your competitors.
Trade mark indicates the quality of your products and services.
Establishing the brand and earning goodwill is supported by registering your trade mark.
Trademark enables to get the name “Branded goods” which will add on the value of your product.
Advertising the product will reach easily if your product holds an attractive trademark.
Trade mark serves as the most efficient commercial tool that establishes the identity of your product.
Holding a registered trademark significantly increases the value of your brand to potential purchasers, and hence any purchaser of your business is likely to pay much more for the goodwill that is built.
Trade Mark Serves As An Asset
Trademarks are one of the few Assets that provide a long-term competitive advantage.
Trademark is the only business Asset that will get appreciated in value over time.
Trademark provides value beyond the core business and an pave the way for expansion of the business.
Trademark- A Communication Tool
Trademark helps to register the product among the consumers which helps them to differentiate and select the desired product.
Trade mark wraps a series of technical issues in a single logo such as:
Products and services
Trade marks will work across borders, culture and language for e.g. the famous brands like KFC, Coca-Cola etc.
Trade Mark Increases Sales Volume
Trade mark helps to find out the significant differences among competing products.
The brand can be an important factor to drag the consumer’s attention.
Trademarks Are Relatively Inexpensive To Protect
After successful registration of trademark it has an infinite lifespan by renewing it and the expenses are less when compared to other intellectual properties.
Trademarks are often the top-of mind address for an Internet user which helps the consumers to identify your product easily.
Trade mark gives the consumers the ability to protect themselves by relying upon known brands of products and services.
Trademark also assures the owner as it helps him to protect his own product from other competitors even if they similar. The owner can protect his trademark by taking legal actions against his reviles if they try to infringe his own trade mark. When once a company registers its trademark ownership it will have an exclusive right to use it nationwide and for all the products that are listed in the registration. The trade mark acts as a prima facie evidence of its validity once registered and gives an exclusive right to the owner to use the trademark in the commerce field. Registration of trade mark prevents others from using your trade mark and hence it is important to register it. In the event of anyone trying to infringe your trade mark the owner can fight back legally only when your trademarks is registered.