As we know, business entities use trademark registration to differentiate their goods or services from comparable goods or services from another company. Trademarks are usually denoted by markings, logos, labels, at the end of the line “R” letter. The Trademarks Act, 1999 allows the brands for Trademark Registration. Thus, One can have Trademark Registration of any mark or symbol unless it has been declared offensive, indignant and governmental insignia. In this article, we shall discuss the latest news of Unexpected Hike in Trademark Registration.
What is a Trademark?
A trademark is a logo or graphical image used to distinguish one product or service from another. For example, an organization’s name or logo, a brand, or a product.
In other words, It is a vital sign that identifies your business and helps clients distinguish you from your competitors. Moreover, Trademarks are similar to the branding of the company.
However, it may also include numerals, graphics, illustrations, three-dimensional features such as product type and packaging, and non-visible signs such as tones, scents, or color hues. According to section 25 of the Trademarks Act, 1999, a trademark in India has a 10-year validity duration. The New Trade Laws, 2017, was announced by the Government of India (GOI) on March 6, 2017, to regulate the registration process, establish benchmarks for trademark applications, encourage e-filing, and streamline the registration procedure.
One may renew Trademark Registration with the corresponding documentation, and the measures are importantly fulfilled for a further 10 years. Thus, trademark registration plays a crucial role in the success of any business.
Learn More about Importance of Trademark Registration in detail – Importance of Trademark registration in India
Unexpected Hike in Trademark
Piyush Goyal, Minister of Economic and Industry, Consumer Affairs and Food and Distribution and Fabric, recently asserted incorrectly that 14.2 lakh trademarks were registered in four years (2016-20), compared to 11 lakh Trademark Registrations in 75 years (1940-2015).
In response to the Lok Sabha on September 21, 2020, Goyal stated that the application for trademarks was pursued in compliance with the Trade Marks Act of 1999 and the Trade Marks Rules of 2017.
According to the poll, the total number of Trademark Registration between the 2015-2016 fiscal year and the 2019-20 fiscal year was 11, 61, 953 rather than the 14.2 lakh previously estimated.
Furthermore, according to the Department of Industrial Development and the 2015-2016 annual report, the overall number of trademarks registered in prior years (up to December 2015) was 11,97,743. This implies that Trademark Registration between 2016 and 2020 will be similar to those registered 75 years ago. Thus, even though the claim of Goyal was not based on facts, this fact has been brought to our attention.
In the 2020-21 fiscal year, India would have registered 14,17 lakh marks over the past five years if the number of registered marks expanded.
In the fiscal year 2015-16, there were 65,045 Trademark Registration, whereas, in the financial year 2016-17, it was 2,50,070 registrations were filed, 3.8 times the previous year.
The number of Trademark Registration in 2017-18 amounted to 3,00,913, and 3,16,798 registered in 2018-19, it was 2,94,172, and 2,55,993 registered in the financial year 2020-21, respectively.
What are the Reasons Behind the Hike?
Debanjan Chakravarty, Chief Inspector of Trade and GI at the Kolkata Trade Marks Office, claimed that the department could complete the assignments of Trademark Registration due to several reasons.
“Contract staff also increased as well as the departmental staff, computer installations, system simplification, and the entire process were improved,” Chakravarty said.
To conclude, Trademarks play a vital role in business for several reasons including brand protection and marketing. Also, by this trend, more people will have Trademark Registration, and missing it can put you on thin ice.
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