A tangible property
Any property that is part of a trade has value. A trademark registered is a property that can be identified and is intangible. This signifies that the trademark is valuable because it represents the service or product’s reputation. A trademark registration is similar to other company assets. It can be transferred or sold at any time.
However, a common trademark cannot be separated from the business. An unregistered TM is attached to the company. A common trademark is not an individual mark. If another company wishes to gain the goodwill associated with it, they must purchase the entire trade.
Only the registered trademark owner and the product or service they are referring to can use it. Unauthorized use of a trademark by anyone other than its owner can result in legal action. The most important benefit of TM registration is its authoritative legal remedies. Listed below are some of the possible actions:
Delivery of infringed items
Payment for damages
A major deterrent
A registered trademark prevents other business owners from using the identical or similar mark on their products and services. It ensures that the good will not be stolen.
A security promise
A registered trademark can be used by an enterprise to secure a loan. A trademark can also be used as collateral to secure a loan from a bank.
Right to license and other
Only registered trademarks have the right to:
You can use the symbols (r) and “R” to identify an item or service.
You can license the trademark. This is also recorded in the trademark registry. This gives the licensee legal rights to start any proceedings in the event of an infringement.
Transferred to another person, entity, or business.
Register in a few countries. This gives the brand protection on a global scale while expanding its operations.
As evidence in proceedings
Registering a trademark is proof of its validity and rights. If the situation required legal action, certification is used to prove that the trademark owner. Until it is proved otherwise, the original registration record is considered proof. well-known Trademark registration in Lucknow
The right to take action
The Counterfeit Goods Act 1997 gives the right to the owner of intellectual property (in this instance, a trademarked item, service or product) to bring criminal or civil action against any business or individual involved in counterfeiting. Any person with an interest in counterfeit goods also has the right to the CGA.
Not only are the benefits discussed in this article the main reason to register a trademark. It is essential to protect properties in a world that encourages plagiarism and copying. It is strongly recommended that every product, service or item that a person or business creates be trademarked and registered.