What is a Trademark: Advantages of Trademark Registration?

A trademark is a type of intellectual property consisting of a recognizable sign, design, or expression which identifies products or services of a particular source from those of others.

Although trademarks used to identify services are usually called service marks. The trademark owner can be an individual, business organization, or any legal entity.

A trademark may be located on a package, a label, a voucher, or on the product itself. For the sake of corporate identity, trademarks are often displayed on company buildings. It is legally recognized as a type of intellectual property.

The essential function of a trademark is to exclusively identify the source or origin of products or services, so a trademark, properly called, indicates the source or serves as a badge of origin.

In other words, trademarks serve to identify a particular entity as the source of goods or services. The use of a trademark in this way is known as trademark use. Certain exclusive rights attach to a registered mark.

Advantages of trademark registration:-

1. Provides exclusive identity
2. Works as a shield
3. An asset

Ever since the marketplace has got crowded with more and more companies and brands it has become close to impossible to differentiate among them.

Therefore, to attract customers to be able to stand out is by getting an trademark registration for the brand and consequently build its prestige over it.

For every entrepreneur, it is fundamental to make sure that his/ her brand is safeguarded against the competition.

Now, in case the trademark that the individual has been working to build already has a registered trademark by someone else, then not only does that individual loses business and goodwill in the market but also loses the privilege to prohibit others from using the same trademark.

Therefore, shielding the trademark shall safeguard the trademark/ business, which further assists the individual by preventing others from using a similar trademark.

A registered trademark is an absolute asset for the business/ brand/ company which directly brings home goodwill.

The desirability of a trademark thrives with the growth of the business.

In fact, a registered trademark can be sold, transferred or purchased, or even be utilized as a security to obtain a loan which is similar to any other tangible asset.

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