In simple words 'Trademark' symbolizes the 'Brand Name', which is in legal form. The trademark will distinguish one company from another by name, logo, color, and device. The trademark which is enrolled for employment is known as the service commemorates.
The reputation, and products influence many people to join that company or to buy from that company as it increases the brand value. A promising trademark will always be known by all the customers or individuals. So, there are many advantages or benefits of trademark registration.
Boons of trademark registration
1. Increases the joining of employment: The individuals are always attracted to big labeled companies. The label promotes the positive portrait of the company and thus aspirants are attracted towards them effortlessly. This also decreases the cost of hiring and related other activities.
2. Low cost or cost-efficient: The Trademark enrollment is done at a very low maintainability price. Once the company is enrolled in the trademark, the company just needs to pay the cost of maintenance and the renewal cost, which is after 10 years of enrolling the trademark.
3. Insurance against violation: Other companies cannot use the brand name, logo, or color, which is enrolled under the trademark. If by any means, a company uses it without the approval or consent of the owner of the trademark or makes any dishonest use of the same, the owner can get the legal protection under the Act and stop the person from copying or making any criminal offense.
4. Registered trademark symbol (®): After the trademark registration, the company can use the ® symbol on the logo, which states that it is a registered trademark and no one can use a similar trademark. It restricts all types of practices as well as rights. If someone else uses the trademark then the owner can litigate that company or person.
5. Intangible asset: The trademark registration creates an intangible asset, which is the diligent commodity for a company. The registered trademark is the treaty created which can be sold, assigned, franchised, or commercially acquired. Which gives an advantage to the organization by creating assets.
6. Assurance to the quality: The registration gives praise to the quality of the product. The buyers connect the product’s quality with the brand name and this good image or the demand is created in the market about the quality of the brand which helps in attracting new consumers as they can differentiate the quality of a product by the logo or the brand name.
7. The uniqueness of the company: The registration of the company makes it clear for consumers to find the products of the company. It makes the product and identity of products different from that of the other companies and competitors which acts as productive or profitable commercial equipment. The logo or the name can communicate with the concept, excellence, or extraordinary trait of the company and any firm.
8. Verifies the trust of the consumers: The excellence of the goods and services are known by every individual by the trademark. This stabilizes the trust and friendliness among the consumers in the market. Also, it helps in building loyal consumers who frequently buy for the same brand.
9. Complete rights: The owner of the Registered Trademark celebrates undivided or complete liberties over the trademark. The owner can use the same for all the products falling under the classes associated. Moreover, the owner can enjoy the sole possession of the Trademark and can stop others from the unauthorized use of the Trademark under the same class where it is registered.
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Trademark Renewal Fees
Depending on the order of a company, trademark rejuvenation may also pose difficulties, such as rejuvenation within different regions. This needs a professional international understanding of IP licenses and renewal methods in these regions so that the appropriate certificates are accurately processed and listed within the relevant deadlines. Whilst the rehabilitation method is not common, it does need substantial trademark renewal fees of support to guarantee that a business preserves its intellectual assets from opponents. We impose R1,000.00 per class (per trademark) to replenish it.