Trademark Advantages in Business: Why They Are Important

Trademark Advantages in Business: Why They Are Important

01-18-2024

Table of content

With the inception of Company Act 2013 the trademark registrations have become crucial for any business entity. With the increasing awareness about trademarks along with intellectual property more than thousands of “marks” each year are registered as trademarks. 

A trademark is merely the business name or a company logo; it is essential to have a distinct, memorable name or emblem so customers can easily identify their businesses amongst the competitors.

Before we dive in on the trademark perks, let's clear the dilemma in a nutshell, whether a trademark is similar to a trade name?

Are Trademarks and Trade Same?

Definitely No!! A “trade name” is basically the name that have been used to identify the company. It provides no legal protection or limitless rights for the use of that name; it is just the name. Trade names are registered on the state level, meaning a precise name may be available in one state but not another.

Lets now get on to the main topic of our writing: i.e Perks of Trademark Registration

Advantages of Trademark Registrations are as follows:

An Asset

A trademark is an asset to business that adds value. It creates a difference between the product or service against the competitors in the market. Trademarks can resemble the brand- as they attract the customer, standing apart from the rest of the others. 

Trademark is a marketing tool for your business. Likewise, the value of a trademark boosts as the business grows. Trademark is a sign of commitment to any business or company, and integrity that helps the consumer in making purchasing decisions quickly and clearly.

Uniqueness & Secure

By registering the trademark, one ensures that the trademark is not as similar to any other registered trademarks. If you accidentally infringe upon someone else’s name or trademark, there are chances of being sued by the registered trademark owner and may end up paying a heavy amount of legal fees and fines as well as giving up all profits obtained under the unregistered mark belt.

Thus, trademark registration ensures that other companies will not have the same trademark as your product, and gives your company exclusive rights to function and market under said trademark.

Shields investment in Advertising & Branding

Contemporary competitive markets have made advertising and branding a must for any business. Businesses invest on a range of advertising mediums such as digital, newsprint, radio, TV, etc., to promote their brand among consumers.

On the other hand If there is no trademarked brand, the brand can be claimed by anyone. Therefore, it is essential to file a trademark application for the brands prior to the beginning of advertisement campaigns.

Lastly, it protects against unfair competition

A registered trademark can be used as a powerful weapon against unfair competition. Today the marketplace is filled with plagiarism and counterfeiters who ruin unscrupulously used brand names for their own benefits. A registered trademark is an effective deterrent against such unfair competition.

Final Insights

Hope this piece of writing have given a fair understanding of how essential is having a registered trademark in any business and how it acts as a deterrent to keep your business unique and intact forever. Thus, act now and get your company registered as a trademark today!