First, we need to understand what a Trademark is. In simple words, a Trademark is a logo, a design, expression, or anything which implies that a product belongs to a certain individual or organization or firm. “Service Marks” is another term used for Trademark. So, if you want to start a business, then the first thing that you have to do is think of a unique and catchy trademark that sticks to people’s minds. Whenever you want to start your business in a legal way, you should need it. Let’s see why the trademark Registration is so important in 2020.
1.) Makes your brand Unique:
When you decide to register a trademark for your brand or product, you can do it with the help of any trademark consultant or simply apply for trademark registration online, that trademark will make your brand or your product unique. No other organization can use that trademark for any other purpose. You can even do a brand registration by registering your brand’s logo or name as a trademark. So, now when a consumer wants to find your products it will be easy for him/her to identify you as the source. Trademarks create awareness of your brand and this is the most efficient tool nowadays to capture the consumer’s attention.
2.) Trademarks prevent confusion:
If you have a registered trademark, you publicly claim ownership of your product. In the era of digital marketing, it is very much possible that people can start using your brand name or product’s name to start selling their products. Having a registered trademark means that you will have the sole right and ownership over the product. You will have all rights to sell, modify or use it as you may please. Thus, you can stop anyone from using your trademark and in turn, stop any confusion as consumers will know which is the original brand and choose that one.
3.) Trademark will stay forever:
A Trademark once registered will stay with you forever. After the initial period of 10 years, the legal rights over the trademark expires, but you can just renew it for infinite no of times. Trademarks can give you a long-term competitive advantage as they are usually the only business asset that will appreciate over time. They will help you in the future if you want to expand your brand as they provide value beyond your core business. Even you can extend your business with lots of profit at the end of the day.
4.) Trademark gives Legal Advantage:
If you want to stop anyone else from using your brand’s name, you must ensure that you have done a brand registration by trademarking your brand logo and brand name. When you have a trademark on both of them you can stop anyone from using your brand’s name or logo and even file a legal case on the organization using your name, and you will have a legal advantage as you have a trademark. Your customers will be convinced easily to continue with you if you have the proper trademark. Actually, it attracts consumers.
5.) Trademarks are valuable assets:
Trademarks can be bought and sold as they share attributes with other forms of property, like real estate. They can be pledged as a mortgage, licensed for lease. As your business will start to grow, the value of your trademark will go up as well. Basically, it helps to progress your business in a well-arranged way. So, if you want to make more side-money which will work as a passive asset for you, then you must do your trademark registration as soon as possible.
6. ) Trademark helps in utilizing the internet:
Trademarks have become very important due to the increase in digital marketing. While searching for a product on the internet, the user often has the trademarks of the brands on top of their mind. So, having a catchy trademark will lead to more searches per day resulting in higher traffic which translates into higher rankings on search engine results.
7.) Trademarks make hiring easy:
If you have a firm or organization which doesn’t have a registered trademark, then you will find it hard to attract people with experience and skills to work for you. Trademarks and brand registrations make a positive effect on the mindset of the employees and employee hiring and retention is higher in brands who have registered trademarks.
Thus, after reading the 7 points we can all agree to the point that trademark registration is a MUST for businesses. It doesn’t matter how big or small your business is, having a trademark will not harm you in any way. So, if you have still not registered your trademark, then do it right away. Nowadays you can easily find a trademark consultant service on the internet and apply for your trademark registration online.