Businesses that seek to succeed in the long term and remain competitive will have to make an impression as many other companies are selling similar goods and services like yours. How would you differentiate? One of the most effective methods for small businesses to improve their growth is to distinguish your businesses from others using brand identity.
Now, if any other organization copies you and markets your logo and name, you will lose business reputation. The only way to protect your brand from this cheap imitation is through the practice of intellectual property rights. The easiest and fastest way to do this is to register trademark online in India.
But some myths are surrounding the trademark in India are best addressed with rationality and lawful truth. Let’s bust those myths and get started with the process of creating a brand through the right set of information.
Common Trademark Myths in India
#1. I shouldn’t register a trademark because I own a small business
Many small business owners believe that registering a brand is just for big business because and that they cannot afford it. The reality is that money invested in preserving company identity will deliver great ROI. Understand that market size is not a requirement for trademark registration. You will need to recognize the market potential and early go for TM security before your brand faces legal obstacles to a certain level of growth.
Even a small delay in doing what’s needed can be troublesome because your rival will exploit your brand’s weakness. A standard trademark application will enable the user to claim the first date of use, which is essential to exercise the right in the event of any later clashes.
#2. I have company registration, so there is no need to register the trademark
Some believe the company name is protected by default, but that’s not the case. Registering a business name will prevent anyone from using your (legally) name. Instead, having a trademark helps protect your services and goods.
#3. Registration of trademarks is a costly affair
Most small businesses regard registration of marks as an expensive affair. Sadly, they miscalculate the risk of failing to do so. When they are popular, they will inevitably put their brand name at greater risk. In such situations, other companies or rivals will begin to use your brand name and possibly make the same offer as your company. This makes it virtually difficult to sue other companies because, in the case of trademark infringement, you cannot open court proceedings. In these situations, the only realistic alternative left for the company is to move off.
#4. My mark is not registered so I cannot exercise my rights
Maybe, the most common misconception about trademarks is that your trade has no rights if you have not registered the trademark. This argument must be more critical since even though the registration of the trademark has its benefits, unregistered trademarks can still enjoy such privileges dependent on use. Whenever you start to use the mark for a trade-related purpose – whether it be advertising, print brochures, or sales.
By carrying out business activities, your trademark acquires trademark rights under common law. Also, be aware that these rights acquired commercially remain restricted to a (local) geographical area. Claiming rights in these situations is challenging because of the increased burden of evidence.
#5. My registered trademark(s) has worldwide rights
While it is true that Trademark registration is globally connected, but when a business seeks to expand its activities to other countries, it has to file a national trademark application. Later, a trademark application may be triggered under the International Trademark Registration-Madrid Protocol. A foreign trademark cannot be registered without first registering it in its home country as a part of the rule.
#6. I can legitimately seek damages from an infringement
You must realize that in the case of trademark infringement, legal proceedings take a significant amount of resources-time and money. While it is possible, it every not be a practical exercise for small businesses. The person filing the petition of trademark infringement (the claimant) must submit a solid proof to prove that a violation has occurred. This means that the said person (company owner) believes that someone copies their business name.
If the opponent can show the prior use successfully, the plaintiff may lose the right. If the complainant is unable to give adequate proof of fair use and the adversary is used for making an argument beforehand, you may forfeit the right even to use the mark. It is, therefore, essential to have a strategy that will protect you well.
Being a business service professionals, LegalWiz.in let companies protect their brand as our team helps you deal with the myths as mentioned above related to trademark registration. Going through those will help you resolve some of the most famous trademark myths. Breaking such myths is ideal to get started with the journey of registering trademarks.