A trademark can be one of your company’s most valuable assets. It is a form of identification and contributes significantly towards building the company’s public image. A trademark is a visual symbol – a word, name, numbers, label, logo, a combination of colours etc. It is a mark of uniqueness and helps the customers identify a particular brand or company.
Top things you need to know about trademark registration:
- A Visual Representation
The types of trademarks you can get registered are quite varied. Here
are a few types:-
– Word Marks
– Service Marks
– Logos and Symbols
– Shape of Goods
– Series Marks
– Collective Trademarks
– Certification Mark
– Geographical Indicators
– Pattern Marks
– Sound Marks
– Colour Marks
– Three Dimensional Marks
- An Intangible Asset
Consider the fact that your business builds a reputed name and turns out a successful brand. A trademark, being a type of intellectual property, brings heaps of benefits to the company. Once a trademark is registered, it becomes an intangible asset that can be traded, franchised, commercially contracted and distributed.
- Protection Against Infringement and Other Legal Protection
The owner of a registered trademark can exercise his legal rights in case there is any infringement with regard to the owner’s logo, brand, a slogan that has an active trademark against it. The owner has the right to sue any third party that uses the trademark without the prior permission of the owner of the trademark.
- Trademark Search
A trademark search is usually carried out to check if a particular trademark already exists. The search can be conducted through the government’s Indian Trademark Registry database or a third-party service provider website.
- Class Selection
The goods and services here are classified into 45 different sectors. Each sector is referred to as a class. Every logo or brand name is to be registered under the appropriate class at the time of application. Out of the 45 different classes, 34 of those classes comprise of product classes, and the remaining 11 are for service.
- Voluntary, not Compulsory Registration
The registration of a trademark is done on a voluntary basis. However, if a trademark is registered, it holds concrete evidence that the ownership of the trademark belongs to the person who has taken the effort to register it. All legal decisions will be in favour of the party that had the trademark registered.
A registered trademark has a period of validity that stretches up to 10 years before it has to be renewed again. However, the renewal process may be initiated only within one year before the expiry of the registered trademark. If one fails to do so, the trademark will be removed. Even on removal, the trademark can be reinstated through what is known as restoration of the trademark in the prescribed form.
- Trademark Symbols
Trade Mark (TM) and Service Mark (SM)
This symbolises that the trademark has not yet been registered, but an application for the same is pending.