A Trade Mark 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 Trade Mark 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 today’s world of business and marketing, a consumer has options and alternatives for almost any good or service that it might be interested in. A Trade Mark therefore is used by a manufacturer or service provider to enable its consumers to differentiate its goods or services from that of other third parties.
A Trade Mark acts as a source identifier for the goods and services and thus, helps the consumers to locate a particular manufacturer or service provider among the competition that exists in the market.
As a Trade Mark coupled with high quality goods and services, it plays a very important role in retaining existing customers as well as attracting future consumers. In this manner, a Trade Mark becomes an important aspect for the financial growth and future development of any business entity. It is an utmost imperative to protect ones rights in a Trade Mark as any lack of enforcement of these rights will allow third parties to take undue advantage of the reputation and goodwill that has accrued upon such Trade Mark at the cost of the original owner of the Trade Mark.
In order to protect ones rights in a Trade Mark, it is necessary to have the same registered. The benefits of Trade Mark registration are manifold. A Trade Mark registration gives the owner of the Trade Mark, exclusive rights to use the mark and the said owner may stop all third parties from using the same mark or any other similar mark which may deceive or confuse the consumers to believe that the goods or services of the third party are associated to that of the Trade Mark owner. A registered Trade Mark further gives a legal recognition to the business of the Trade Mark owner with regard to its products.
A Trade Mark, once registered, will give exclusive rights to the registered proprietor for a period of 10 years from the date on which the Trade Mark application was actually filed. Thereafter, the said proprietor may renew the registration for a period of further 10 years.