Significance of Trademark Registration.
Trademark forms an important asset for the business organization. As indicated by one recent survey, trademarks represent, all factors considered, about forty percent of corporate value. The world’s most important brand was as of late evaluated to be worth more than two hundred and sixty billion dollars. By developing and protecting the business trademark, the organization ensures it serves its customers better by ensuring customer satisfaction by providing quality services, this in turn leads to more sales hence boosting the profit levels. It is important to note that a trademark can be represented by any symbol, logo or writing that is able to give the business a unique identity that is different from the ones used by other organizations operating in the same industry. Trademarks likewise guarantee purchasers of reliable quality and thus help advance effective rivalry. It is important to comprehend that it is extremely cheap to register a trademark compared to the procedure of filing for a patent right registration. There are several options for registering the business trademark as explained above. It is mandatory for the business to do research before making its trademark public but it helps the business to reduce chances of conflicts with other businesses that might be using the same mark. This report highlights the advantages of having a unique trademark for your business entity.
The first benefit of trademark in the business is that it guarantees that organization exclusivity. By registering your trademark, you ensure the quickest and most cost-effective way to ensure legal exclusivity for the use of the business symbol, icon, and logo. Enlisting a trademark for your business or item name is like acquiring a declaration of title in connection to owing a land. Another importance of registering your trademark is that it makes the business to limit the risk of other traders preventing it from using its lawful name or logo. One of the most candidly depleting and costly things that can transpire who possesses a brand is receiving a letter from a legal advisor which expects you to quit utilizing the name which you thought you claimed.
The second benefit of trademark is that it serves as intangible asset for the business. A vital explanation behind enlistment is to make the exchange mark as an identifiable elusive property in the lawful sense. It is important to note that trademark forms part of the business reputation and goodwill amongst its customer base and this ensures that the business products enjoy a specific brand that is unique to the other used by other business entities.
In conclusion, the benefits discussed above shows the importance of having trademark in the company.