In legal parlance, trademark is a mark or a symbol which can be graphically represented and has the ability of differentiating the goods, products or services of one entity from others. The broader term encompasses the shapes of goods, its patterns, designs or colors, the way they are packaged etc. The name, logo, product or service of a start-up is the crux of its business and thus, formulate a part of its trademark. Hence, it is important for any start-up company to protect these intellectual assets by registering them, so that no other entity can misappropriate with its trademark in any illicit ways.
Importance of trademark and its registration for start-ups
- Trademark helps your consumers know you and your innovative products or services.
- It helps in influencing your purchasers and distinguishes you from your established competitors.
- It stimulates start-ups to provide best quality and maintain their quality standards in order to enhance its brand-image.
- It enhances your competitive advantage with growing time and as your business expands.
- It is an ideal way to promote your work, image, brand or messages across cultures, territories or languages via a single logo or trademark.
- Trademarks help you gain popularity on internet and earn higher ranking on search engines. It helps in generating higher traffic.
- Protection of trademark is comparatively less expensive than other intellectual property rights as after registering a trademark it protects a trademark for longer duration.
- Start-up India Action plan is exclusively emphasizing on providing facilitation in trademark registration which will help start-ups overcome legal hassles in filing IP application and registration.
Registration of a trademark is important for a start-up
It is essential for a start-up to register its trademark because it provides proprietary rights over its trademark. It ensures a complete legal control over it and protects your trademarks from any illicit access or its misappropriation in any possible way. With registration of trademark, you can safeguard your entity against frauds and repulsive competition by raising legal action against them.
In addition, registration allows the start-ups to freely use/publish its trademark in any medium. It helps start-ups in carving their business entities and leading their businesses successfully. Start-ups can leverage their trademark to capture the attention of their consumers and in attracting an enduring attention of their target audience. A potential and registered trademark guarantees your place in the business vertical and lets you stand against established competitors.
If start-ups with registered trademarks decide to sell their idea or new venture then in such a case they can undertake the transaction smoothly. Sellers also insist buyers on getting their trademark registered in order to assure security of their future rights.
How MyAdvo can help start-ups?
MyAdvo provides round-the-clock legal assistance via its one-stop platform, where start-ups can seek information pertaining to trademark laws in India, recent government initiatives for Start-ups and procedural know-how from the IPR experts. We connect you with lawyers and law firms who are proficient in trademark and IP Acts, provisions and procedures. We facilitate a choice to select the right advocate by providing you proposals from different lawyers for comparison. We aim to provide you a facilitating platform with rightful law-relating assistance so that you can spread your wings smoothly in the business sky.