Cost-Benefits of Trademark Search and Registration in India
The prime motive of every business unit is to earn maximum possible profits by making the lowest possible investment. Thus every major decision of the company is largely influenced by the cost benefits coming with it. The same applies to decision of obtaining the trademark registration in India. The cost- benefits of trademark search and registration in India must be evaluated properly prior to making an investment in it. Through the course of this article we will first take a look at the monetary benefits of conducting the trademark search and then obtaining the trademark registration.
- Benefit of conducting trademark search- By conducting the free public trademark search in India the applicant can ensure that his trademark is unique and capable of distinguishing his products and services from others. When they conduct the complete and diligent trademark search they can reduce the cost of trademark registration in India by avoiding the objections and the opposition on the application filed. Also, it ensures that there is no trademark infringement on the part of the applicant. Due to which the risk of incurring the high cost in case of trademark registration is also reduced.
- Asset Creation- A registered trademark is the intangible asset i.e. the intellectual property for the company. With the trademark registration the holder company gets the exclusive rights over it and can lend this right to others in exchange of consideration.
- Trademark Assignment-The holder of the trademark enjoys the exclusive rights of ownership over it. In order to gain the monetary benefits the trademark owner is empowered to transfer the ownership rights to another party in exchange of desired consideration. These rights can be transferred in whole or partially and along with goodwill or with goodwill. Recently the popular trademark Havmor Ice Cream has transferred the partial rights of the company over to Lotte Confectionery for INR 1020 Crore.
- Trademark licensing- The trademark licensing is the similar concept like trademark assignment. However, in trademark licensing the ownership rights over the trademark are not transferred. With trademark licensing the registered owner grants the rights to use his trademark in a particular manner under the licensing agreement. With trademark licensing the owner can be assured of the regular receipt of the royalties and the stable income.
- Branding of the company- Every year many companies invest millions if rupees in their developing their branding strategies. The company with the registered trademark is able to make a mark in the market in the market and create the unique image. Thus, the cost involved in promoting the registering mark is less than others.
- Magnetize More and more customers- A registered and popular trademark is able to attract more and more customers improving the total sales of the company. Most of the customers put their trust on the brand names that are legally trusted and are ready to pay the little high prices for them.
Apart from adding the credibility to the business the trademark registration in India brings the multiple cost-benefits also for the registered business unit. That makes the investment in trademark search and registration a wise decision.