Startups most often don’t realize the importance initially. However, when they dive into business and competition, they regret not having done it earlier. Therefore, if you are running a startup business, and need to know the importance of Trademark Registration online, continue reading this article.
A Brief overview of Importance of Trademark
For today’s business climate, trademark protection is an invaluable asset. Creating a name for your business that customers will remember is crucial to your continued success. The first rule of branding success is to guard your brand’s distinctiveness at all costs.
Trademarks in India are available for a wide variety of things, including names of products and services, company names, logos, slogans, and even the very sounds and forms that make up a brand.
You can understand about trademark in-depth at: Trademark Registration for Startups
Important Reasons to get Trademark Registration for your Startup in India
Becomes a unique and valuable intangible asset
When you register your trademark, you have the exclusive right to put that mark to use in your business. Companies are now valued on a global scale that takes into account more than just their physical assets. Businesses using lean business strategies include Uber, Swiggy, and Oyo and also have trademark registration. Because of this, millions of consumers hold these companies in high regard. Examples of the effectiveness of branding and recognition include McDonald’s iconic golden arches and Apple Inc.’s bitten apple symbol. Because of this, the worth of these names has skyrocketed to the billions.
Attracts the quality talent
Protecting a company’s good name once it has established a trademark is a top priority. People are more willing to work with and for a company if they have a good reputation. Assume double the effort whenever an expansion is in the works. If a startup wants to expand, it has to hire additional people and quality talent. Quality talent will only be attracted to you if you are having a unique business identity through Trademark Registration.
Earn extra Revenue
It is a well known fact that trademark registration provides the owner with the ability to prohibit any other party from using the mark in question. To add to that, you may licence your brand to other businesses and unleash your brand’s full potential. To expand their customer bases and income streams, or to break into new industries, many companies licence the use of their brands. In the year 2020, for instance, the well-known fashion designer Calvin Klein licenced the design and manufacture of footwear to Mark Fisher Ltd.
Provides legal protection to your Brand or Business
When a trademark is registered, it receives the full protection provided by the Trademark Act. Therefore, you’ll be able to sue over a competing brand’s use of a confusingly similar name and get them to stop using your trademark. When M S Food Goods (a tobacco products dealer) presented evidence of its earlier usage of the trademark “Malikchand,” the Supreme Court ordered the brand’s current owners, Dhariwal Industries, to stop using the name.
Helps in Marketing
If a startup keeps growing, it can serve as a catalyst for increased value as the organisation grows. In order to increase brand awareness and customer acquisition, trademark usage is crucial in every successful marketing campaign.
Once a new company has built up a solid reputation for its offering, consumers will begin to identify the company’s name with the quality of its operations.
In conclusion, when starting a business, trademark registration has to be a top priority. It will safeguard a company from the start, paving the way for its eventual success. Securing a startup early on is crucial for positioning oneself favorably and avoiding future loss.
In case you need any further guidance with regards to online Trademark Registration, please feel free to contact us at 8881-069-069.
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