A Trademark generally refers to a “Brand” or “logo”. Trademark registration can also be obtained for a business name, distinctive catch phrases, taglines or captions. A Trademark may become the most valuable asset of a business.
It is additionally fundamental to get trademark enlistment for the business name/exchange name under the Trademarks Act. Registration of an organization or business name under the Companies Act does not in itself give protection against other people who may begin utilizing indistinguishable or comparative imprints.
A trademark is a recognizable sign, design, or expression which identifies products or services of a particular source from those of others, although trademarks used to identify services are usually called service marks.
A trademark is any unique expression related to a product or service that distinguishes it from others. This expression could be a word, slogan, photograph, logo, graphic, colour combination, sound however, most businesses are only looking for a brand name registration or logo registration.
Use of TM, SM and ® symbols
‘TM’ stands for Trademark and ‘SM’ stands for Servicemark. The use of TM and SM symbols notifies the public that the company is claiming exclusive ownership of the trademark and can generally be used by one who has filed a trademark application.
The ® symbol, can be used only once the trademark is registered and the registration certificate is issued. Also, you may use the registration symbol only in connection with the goods and/or services in respect of which the trademark is registered.
Selecting a good trademark:
A trademark must be chosen carefully. If you are launching a product and adopting a new trademark, please bear in mind that the scope of legal protection you would obtain depends on the type of trademark chosen. The most common mistake is to choose a word that is descriptive of the goods or services. People do this in the belief that the consumer will know straight away what the product is or the service rendered. The same result can easily be obtained by combining a distinctive and fanciful trademark with a word which indicates the goods or services. Descriptive trademarks are difficult to register and enforce. Although it may be easier to market such products at inception, such trademarks are offered the least amount of protection and therefore, in the long term, it would be difficult to stop your competitors from using the same or similar trademarks.
Why Trademarks Are Important to Your Business
- Trademarks are an Effective Communication Tool: In a single brand or logo, trademarks can convey intellectual and emotional attributes and messages about you, your company, and your company’s reputation, products and services.
- Trademarks make it easy for Customers Find to You: The marketplace is crowded and it’s hard to distinguish your business from your competitors. Trademarks/brands are an efficient commercial communication tool to capture customer attention and make your business, products and services stand out.
Customers viewing a trademark immediately know who they are dealing with, the reputation of your business and are less likely to look for alternatives. Your brand could be the critical factor in driving a customer’s purchase decision.
- Trademarks allow businesses to effectively utilize the Internet and social media: Your brand is the first thing customers enter into a search engine or social media platform (Facebook, Twitter, Pinterest) when looking for your products and services. Higher traffic on a website or social media platform translates into higher rankings, bringing even more traffic, more customers and more brand recognition.
Trademarks are a valuable asset- Trademarks can appreciate in value over time. The more your business reputation grows the more valuable your brand will be.
- Trademarks can make hiring easier: Brands can inspire positive feelings in people’s minds. As a result, employment opportunities are more attractive to candidates. Employee retention can be higher if employees have positive feelings for the brand and the products and services offered.
- Trademarks never expire: Your trademark will not expire as long as you are using it in United States commerce. Some of the most recognized brands in the United States today have been around for over a hundred years.