• Trademark symbolises your image, goodwill, value and reputation. The most important aspect of Trademark is that it protects the consumers from being misled. Trademarks represent the goodwill associated with the brand owner.
• Trademarks represent a certain minimum standard of quality associated with the products, goods or services.
• Trademarks allow consumers to make their choice between the various goods available in the market. This encourages the trademark owners to maintain and improve the quality of the products sold under the trademark, in order to meet consumer expectations.
• Registering a trade mark provides you with exclusive rights over your brand and is an extremely important tool to capture the goodwill. It acts as a deterrent against infringement by being on a public record.
• Anyone who uses your registered trademark without your consent is guilty of a trademark infringement. If an infringement occurs, you may file a suit in a court of law. The court can prohibit the guilty party from continuing to infringe upon the trademark and may also impose damages.
The major benefits of Trademark are as follows:
• Customer loyalty helps in expanding business.
• Trademark is associated with the quality, so the willingness to accept price rise is more acceptable among the users of a particular brand.
• Improved performance during market crisis.
• Increased effectiveness of marketing communication.