Trademark is actually a brand name, which gives the owner the right to exclusive use of the mark in goods and services covered by it.The most important reason for registering trademark is, it is a powerful remedy against unauthorized use. There are various benefits of trademark registration, some of them include:
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Registering trademarks can be deposited as security, which means that the registered trademark can be guaranteed security for the secured loan facilities, in the same way as the immobile services can be secured. It helps to secure the companies name and logo which is generally considered to be the most valuable asset for the company. Registering trademark brings an exclusive nationwide ownership mark for your brand.
The most important reason to registering trademark is to create the trademark as detectable abstract property in a legal way. It adds values to the reputation and goodwill of the product. The unregistered trademark product will never have separate and independent existence. It will always provide goodwill and will always be attached with your product and brand. It is also transferable as an asset owned by the company or a person.
A registered trademark can be licensed. The trademark license can be recorded on the trademark register. Providing the authorization rights to the concerned official legal affairs, in the event of violation.
Registered trademark can be transferred, but at the same time, common law trademark can only be transferred with the business.
There are various obstacles arises while running a business, out of which the major issue is another person having the same company name as yours and also selling the same products, to avoid this you can register your trademark which deters other owners from using your name.
Used in business:
Registration of trademark acts as the best evidence of validity of the registration and the rights conveyed.
It helps to avoid imitation of goods, holding registered trademark helps to increase the value of the brand for potential customers and the customer could be willing to pay much more for the goodwill which you created.
Foreign provinces :
The register trademark is used as a basis for getting registration in some foreign countries, facilitating brand protection worldwide as the business expands.
Trademark registration helps you to provide security, license, assignments, saves us from obstacles, it very beneficial in trading of goods across the globe.