In the contemporary competitive business world, brand is typically the most important asset to a business. Customers are able to identify products and services through unique names, logos and taglines. Your brand may be abused or duplicated without any legal protection. Employing a trademark gives you the right of exclusivity, and renewing it retains the right.
This article demonstrates the reason why both measures are significant to the long-term brand security in India.
Introduction
A brand is a result of years of sweat, investment and customer trust. In order to defend it, you must take precautionary steps in the form of law. In India, the owners of registered trademarks are entitled to a legal right according to the Trade Marks Act, 1999.
Many companies do not renew them because they have registered their trademarks. These are two steps that must be taken to ensure that your brand is preserved. Ignoring one of them may jeopardise your brand and potentially cause legal or financial issues.
Registration and renewal are necessary in order to have full brand protection.
Understanding Trademark Registration
Registration of trademarks. You protect your interests regarding your brand by what key features it has, legally, i.e. by registration, e.g.:
- Business name
- Logo
- Tagline
- Symbol or design
- Certain sounds or elements of packaging.
Once you have registered, you are the only one entitled to use your mark on a particular good or service, and you can prevent similar marks from being used by someone.
Why Trademark Registration is Critical for Brand Security
The reason Trademark Registration is essential to Brand Security.
Exclusive Legal Rights
India has a registered trademark that offers you legal protection in the entire country. In case somebody duplicates your brand, then you can sue them.
Unregistered means it is up to passing-off claims, more difficult and more complex to demonstrate.
Protection Against Brand Dilution
Your reputation may be exploited by competitors adding similar names to their names as your business expands. Trademarking your trademark prevents this, as it keeps your brand unique.
Your reputation and their trust can be affected negatively as brand dilution will confuse your customers.
Builds Market Credibility
A brand with legal protection stands a better chance of being trusted by customers. The (r) means that you have registered and are acknowledged.
This brings in professionalism to start-ups and expanding businesses and demonstrates that your brand is authentic.
Enhances Business Valuation
A registered trademark is an asset that is subject to licensing, franchising or transfer. A powerful intellectual property can help your company increase its worth when merging, selling or trying to get investment.
Investors tend to ensure that your brand is not in jeopardy when making decisions.
Common Ignored Step: Trademark Renewal
Trademark registration allows your brand to be safe, but not permanent. In India, a registered trademark is considered valid for a period of 10 years after registration.
In order to maintain your protection, you need to renew your trademark before it expires. Failure to renew will mean your mark is likely to be struck off the register, and this would jeopardise your brand.
The renewal of your trademark will continue your legal protection.
Why Trademark Renewal is Equally Important
Continuity of Rights
Your trademark can be renewed for a period of 10 years, and you can continue to renew it as long as you pay the fees.
This implies that you can keep your brand safe throughout its lifetime, provided you renew in time.
Prevents Loss of Ownership
Unless renewed, you can lose your trademark from the official register. Then competitors may register some similar or even the same marks.
It is normally difficult and expensive to get back your rights once they have expired.
Avoids Legal Disputes
The existence of your trademark becomes weak in the case of its expiry. When the end has passed and a dispute arises, then it becomes difficult to assert your rights.
Renewing in good time will ensure that you retain all your rights under the law without loopholes.
Guarantees Long-term Brand Investment
Companies incur huge expenses in marketing, advertising, and customer relations. Allowing your trademark to lapse is costly as far as this investment is concerned.
By renewing your trademark, you are defending the goodwill that you have established.
Effects of non-renewal of a Trademark
Failure to file renewal within the stipulated time:
- The trademark might be deleted from the register.
- The owner can lose his or her exclusive rights.
- The competitors can take the same mark.
- Rebranding costs may arise.
It is also possible to renew a trademark temporarily once it has lapsed, although this would be more expensive and require more procedures. Prevention of expiry is better.
Strategic Importance for Growing Businesses
Regardless of the newness or oldness of your business, in the long term, you should register and renew trademarks.
And when you are going to new markets, introducing new products, or online, make sure that your trademarks remain alive and enforceable.
Maintaining the portfolio of your trademarks consolidates your brand and provides legal immunity in a competitive market.
Useful Tips for Businesses
In order to keep your brand safe, you need to do the following:
- A trademark search should be carried out prior to registration.
- Register the trademark in the right classes of goods/services.
- Keep renewal date logs.
- Keep a check on the market for infringement.
- Consult the professional services in case of expansion or licensing of the brand.
The thing is to plan in advance so that you can avoid costly mistakes.
Conclusion
It does not just require marketing to assure your brand. Protection by law is also necessary. By registering your trademark, you have all the rights and ownership of it, and by renewing it, you preserve the rights.
The Trade Marks Act, 1999, allows the long-term business protection of its brands in India, provided that they adhere to the regulations in time. Failure to renew in time may result in loss of rights and legal problems.
In the event that you care about the reputation, goodwill, and position of your business in the industry, then it is important to register and renew your trademark to ensure long-term brand protection.
