Does your business need a Trademark?
As important it is to find a distinguished yet suitable brand for your business, it is equally important to protect it. Often small business owners or startups who register their businesses with the ROC consider it safe and think that it is enough to safeguard the originality of the name of their business. All they get mistaken for is that registering your business does not stop anyone from copying the name or logo of your company.
Imagine working so hard in finding a unique name, creating an appropriate logo only to see somebody else copying it and using it. You can only get your brand name protected by registering for a trademark.
Trademark is a service provided by the government to brand a certain logo, name or symbol which is related to the name or any activity carried out by the company and has a value of its own. It safeguards your business collateral, products, and services by retaining its originality by not letting others copy it.
Trademark apart from saving your brand image also helps in maintaining your image in the market. It gives the purchaser an assurance regarding the making and quality of the product they are planning to buy by assuring its quality.
It also makes it easy for your customers to find you. It helps in distinguishing your business from your competitors. Trademark acts as a market communication tool, which helps customers to locate your business in a crowded place from far away just by a sign or the symbol. It does not encourage your audience to look for alternate options.
Taking the example of MC Donald’s, the big yellow M is enough for people to understand that there’s an Mc Donald’s outlet nearby.
Trademark is an alternate name for your brand. The reputation built by a trademark accounts for the quality or performance approved with customer satisfaction, influences the customer’s mind for repeat orders. To protect your brand reputation, it is important for you to deliver quality goods and services to your clients.
In case you are planning to expand your business or trying to venture in some other business activity, your registered logo or name will do the work for you.
If you have satisfied your customers with good quality, then they won’t be hesitant in trying a new product for they are certain that the manufacturing source is trusted.
A registered trademark not only gives you protection in one city or state but across the country. It will be registered with the Indian Trademark office.
Once your trademark has been registered, you can use the ® symbol which shields your trademark from infringement by granting it legal protection.
Trademark also holds monetary value. They act as a property asset, which can be bought, sold, licensed or can be used as a security interest.
Trademarks offer value above your core business. As your business grows, the stronger and popular your brand will get.
Here are certain features of a good trademark
- In case you are planning to trademark the name of your company make sure it is easy to pronounce and can be remembered
- Try to use a single name as it holds more value and is easy to recall.
- The spelling of the name should not be confusing and easy to write and spell at the same time.
- The name should try to speak for itself. It should be short, yet descriptive. One can register the tagline if he wishes to assure the activity of his business
- The word or the logo should be quirky and catchy enough.
- The chosen name or symbol should fulfill the requirements laid down under the trademark registration rules and should not belong to any class which is prohibited by the Act.
Thus my advice to you is doing your due diligence before investing a lot of time and money in launching a new brand. If you are planning to expand your business or you feel that the products you created are unique and there are chances that people are going to use your brand name and sell inferior quality products, then it is advisable to trademark the value of your company’s name to avoid such frauds in degrading your name.