If you are running your own business then this article is definitely beneficial for you.
Brand ownership is important for the better future of your business. You can become the legal owner of your business brand name and logo by applying for trademark registration.
If you MSMEs registered in India, then the Indian Government waived 50% Govt fees to facilitate and encourage your business brand In India.
Top 10 benefits of Trademark Registration/ Brand Ownership In India:
1. The building of Trust and Goodwill of Your Customers/Clients in your Business.
2. It gives quality recognition to Your Products and Services.
3. It gives you exclusive right to use of ownership of your business name and logo if registered.
4. Creation of Intangible Asset. The registered Trademark in the future can be assigned and sold to others in the future.
5. Protection of Your Brand name/ Logo for 10 Years once registered.
6. Gives your products and services the different attributes that can be distinguished from competitors easily.
7. Attract Human Resources towards organization and business reduces costs of hiring young human resources for the companies.
8. If your trademark is registered in India it serves as the basis for Trademark Registration in countries other Than India.
9. Legal protection against illegal use of your business brands and logo(s).
10. It will create a positive image of business amongst market intermediaries In India.
Your business Brand is just like the symbol people will search on your products and services.
Let's take the example of Patanjali Ayurved Products. Suppose this name is not registered then anyone can misuse this business image and degrade your business name easily. Link to view Patanjali brand name in India: https://en.wikipedia.org/wiki/Patanjali_Ayurved
Further, Let's take example of Addidas Brand on this Link: https://en.wikipedia.org/wiki/Adidas
You see one thing common between these two. They both protect their brand names and logo(s) and applied for Trademark Registration.
Can you people suppose a scenario in which they not registered their brand and logo and get exploited by market competitors by illegal use of their name(s) resulting in almost diminished goodwill in the market.
These two is perfect example of how to ensure your business security today when you are operating on a small scale.
You all know " PREVENTION IS BETTER THAN CURE"
Indeed, you can say brand building and trademark registration is the best way t prevent your business from unforeseen future at an initial level of your business. It's better to plan today rather than facing problem in future .
You will surely be successful in expansion of your business if you plan things and impact the other. It can happen when you start thinking differently from others.
Your business planning needs a different approach and you can plan your different business plans Toady by utilizing your time for a better future.
In amidst the COVID-19 crisis worldwide we all are sitting at our homes have enough time to plan our work.
It seems difficult to plan but it is better to plan for a better tomorrow rather than being worried about the current situation. Surely this will bring positivity within yourself.
In nutshell, it is advisable for all businesses irrespective of their size of business to plan today for a better tomorrow.
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