A Trademark is essentially a name, word, symbol or device or their combinations which are used by individuals and institutions to distinguish their goods and services from that of the other sellers and manufacturers. Trademarks are sometimes also used to indicate the source of the goods.
In terms of business, a trademark is essential as it identifies the product from other similar products that are available in the market. A trademark prevents unfair competition, as the consumer is able to significantly identify one producer’s goods and services from the goods and services offered by others.
What do you mean by a Registered Trademark?
A registered trademark is a unique symbol or mark whose ownership is declared and held by an individual or a company. A registered trademark is not only distinctive but also guarantees that the mark of symbol is not used by anyone else without giving due credit. A registered trademark has the letters ™ mentioned.
Is trademark registration necessary for a business?
The reason why most big companies opt for trademark registration is because it protects the original creative and literary work. For companies who depend upon marketing and advertising for promotional activities and sales, having and applying for a trademark is of vital importance.
Costs involved in trademark registration
The cost a company or an individual has to incur to get their trademark registered can be anywhere between rupees 1500 to rupees 7000. This cost is very low and is a one-time investment for these companies.
How to get the trademark registration done?
To get a trademark registered, one must have the required documents and a copy of the logo. The personal information regarding the applicant and the date of first use of the trademark in case it was previously in use as well.
Firstly, a trademark search needs to be done to check for pre-existing trademarks. This followed by creating the trademark. This process on an average takes about 2 to 3 days. The process of registration takes between 18 and 24 months. The government charges approximately rupees 4500. Once the process of trade registration is over, the applicant has a sole ownership of the trademark.