A trademark is a distinctive sign or indicator which is used by an individual or any entity to represent the goods and services manufactured and marketed by that party a Trademark may be anything from a word, symbol, letter, sound, smell or shape which distinguishes the goods and services covered under it from that of other third parties.
In the commercial market, where a consumer has innumerable options and alternatives to choose any goods or services, a trademark acts as a tool to differentiate goods and services from different manufacturers or service providers. Meaning thereby, a trademark helps consumers to identify a product or service as originating from a particular manufacturer or service provider among the competition that exists in the market.
A trademark plays a pivotal role in retaining and maintaining existing consumer base, while attracting new consumers, and ensuring quality control in providing goods and services. Thus, a trademark is an important aspect for recognition, growth & development of a business. Therefore, protection of rights of trademark is of utmost importance for such businesses. This allows the trademark owner to protect and enforce their rights, thereby safeguarding their reputation and goodwill, and to prevent third parties from illegally trading upon the goodwill and reputation of the brand accrued over the years.
The first step, in order to achieve the above is to get the trademark registered. There are many benefits of registration of a trademark, including but not limited to having exclusive right to use said mark, and prohibiting third parties from using said trademark, without prior permission of the owner. Further, registration of a trademark protects the owner against any use of the trademark or a deceptively similar trademark by a third party, and allows the owner to enjoy the benefits of the recognition associated with said trademark. Moreover, registration of a trademark provides a legal identification to a business and the products / services associated with it.
A trademark, once registered, gives exclusive rights to the registered proprietor for a period of 10 years from the date on which application for registration of the trademark is filed. Thereafter, the said proprietor may renew the registration for further periods of 10 years till perpetuity.