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A trademark is regarded as any particular symbol, word, phrase, design or a combination of them which acts as an identifier for a person, company or their goods and services. It is generally what the customers notice about a company which helps those distinguishing products of different companies. They must be registered and after that, no other company or business is allowed to use it as long as the paperwork is valid and proper payments are done.
As stated before, the trademark of a company is very important for a unique identification of a company. The trademark acts as a banner which highlights the company and makes them different from any other. It transforms a business to a brand and thus has several benefits and advantages. Moreover, getting a trademark is not very difficult with the aid from various online websites and other sources. Hence, getting one is totally worth it and would give a lot more to the company in return.
There are several benefits of trademark registration. A trademark is an intangible asset for the business as it adds a lot of value to it. Separating and highlighting the products and services of a company and eliminating competition, a trademark grows along with the company. Alongside that, branding also protects the investments of advertising and branding. The competitive markets today need to protect their brand from being claimed by using a trademark. They also act as protection against unfair competition, counterfeit products and copycats.
A trademark gives a special and exclusive identity to a business, as no one else is allowed to use it during the scheduled time period. This helps the business to grow and set itself apart from others. It gives a sense of individuality to the brand.
The trademark of a company lasts forever. It must be renewed however, from time to time. But, they are cheap which is why they are basically ever-lasting. The trademark of a company lives on even if the name changes. The company has its ownership for its whole lifetime which carries on the identity of the brand. They essentially become a logo which sometimes becomes more popular than the company name itself. The impact it has on its customers is undeniable which is what makes it so valuable.
A trademark acts like a shield for the business as it protects the company and the business from various issues. Fake companies, copycats, counterfeit product sellers and brand stealers are everywhere in this competitive world. Hence, it is important to have protection against them. Trademark also helps in branding and advertisement protection. Without a trademark, advertisements can be claimed by any company, which is why it is so much important.
A trademark is very much economical for any organization or company. In return of a registration and a nominal fee, the company gains so many advantages and protections. It saves them a lot of money which would otherwise be spent on other forms of protection. The only charges are consumed are at the end of ten years when the trademark is renewed. However, they are also not very expensive.
As mentioned before, a trademark acts as an asset for the company, communicating with the customers in a simple but effective way. This makes a brand popular and brings in loyalty. It grows and becomes more valuable as the value of the company goes up. It allows the company to grow with individuality and distinction from its competitors which is always necessary for the company.
This is the first step towards the registration of a trademark. It is important to choose a proper trademark, as there are several already existing ones which cannot be copied and it must also be catchy enough to attract customers and identify the business at the same time.
The next most important step is to fill out the registration form for trademark application providing necessary details regarding the business and the signatory. This form must be send to the government authority.
The government authority must analyse the registration form for the trademark. They must ensure that there is no repetition of the trademark.
This is a period when the trademark gets approved by the government authority. After that the trademark is usable by the business for their own use in various promotions, brandings and advertisement. It is a significant phase thus for the project.
Once a trademark is secured, it is important to advertise that trademark. This is a very important part in making the trademark popular and an integral part of the company as it would be for the rest of its lifetime.
This is the response phase of the trademark life cycle. It helps a business to understand whether a trademark was successful at its purpose or not. There would be objections and suggestions from the general public which must be considered wisely. Any necessary change to the trademark can be done based on the response.
This is the final step for obtaining a trademark. This trademark must continue for the rest of the lifetime of the company. It is already properly advertised and branded and hence it must be able to attract customers and help the company grow.
Trademark of a company must be bought by presenting certain documentation. The copy of the logo, although not mandatory is still documentation which can be included in the list but other than that, some of the details that are mandatory include the identity proof and the address proof of the signatory along with the incorporation certificate or partnership deed. There is a list of details filled out in the form of a form which must also be presented along with the registration fee. The trademark would last for ten years.
Trademark is different from any patent or copyright. They have certain similar functions but with some different operative uses. Firstly, trademarks are ever-lasting. They do not depend on the lifetime of a person but rather lasts till the lifetime of the company. Patents and copyrights prevent the making, selling, reproduction or derivative works on any product or service, while a trademark mainly helps in promoting the services and prevents others from using similar trademarks or claiming that service promotion.