Before understanding the benefits of trademark registration let us know what is trademark? – Trademark is a legal right given to a brand which comprehensively differentiates that respective product or service from others. It is a registered brand name and value which can be procured for any product and service that is meant to be used by the people. A trademark easily persuades people to approach and purchase.
The benefits of trademark registration are many. People in business must know the value it holds and a huge market advantage. This article will give us the idea of how Trademark registration can benefit.
Following are the benefits of Trademark
Outstanding Quality and Product differentiation
Trademark registration is done on products that are well qualified and falling under the guidelines. The quality guidelines are of high standards. This eventually makes the customer choose your product compared to other products that are not trademarked.
The brand name is clearly identified by any customer. In fact, the logo will clearly emphasize the goal of the product.
Trademark gives rights and builds trust
The respective owner of a particular trademark can use the logo or the symbol for any products under his/her company name. The complete ownership of Trademark is enjoyed by the owner. He/she can also prevent people or stop others from using the same trademark and also file a case against them.
Steps to the owner to file a case if identified someone using the trademark
- Verify the trademark which is used unauthorized
- Collect the advertisements of such trademarks
- File a civil prosecution case.
- If the case goes beyond control and losing market value, can also file criminal prosecution
Trademark is an asset
It is an asset, yes, it is an asset as intellectual property of the company. That means to say, it can be sold, commercially using it as a contract. This adds more financial value to any company.
Trademark sets the trust factor to good heights. The customers will start believing the product or the service. The business shall grow massive with loyal customers improving day by day. These customers are permanent ones and they automatically create many customers.
Trademark can help organizations to attract manpower. Of course, people would love to join well-known brands. This shall create one and the skilled manpower increases a lot with a qualified attitude. Absolute savings in hiring costs.
The cost to register a trademark is so low. It is expected of the organization to pay the maintenance cost every year. The renewal happens once in 10 years and the organization must also pay for it.
It is all about how the company builds its image. Registering a trademark is the best strategy to take the business to the next level. This improves the level of trust and visibility too. As it is also an asset to an organization, this can help build sales exponentially.