Trademarks benefit both businesses and consumers as it adds value to your brand name. Trademarks allow businesses to build an identity and reputation with customers, and thereby grow or expand their business. They allow consumers to take an informed buying decision by searching out familiar brand names and avoid bad buying experiences by avoiding the brands they didn’t like.
1. Provides the owner the exclusive right to use the brand.
2. Protects the Goodwill created by you and brand in the market.
3. Protects your Name / Brand Name from being used in a same or similar fashion, by any other business firm, thus discourages others from cashing on your long built goodwill.
4. Gives your products a status of ‘Branded Goods/Services’ as people have a tendency to get attracted towards branded goods/services.
5. To provide strong legal grounds in respect of infringement (misusage by competitors) of the trade mark.
6. Power to assign/transfer/sell/license the trades mark to others based on your terms and conditions.
Copyright is a major part of Intellectual property where one can claim exclusive rights over the created identity which may be in any above mentioned form.
Several exclusive rights typically attach to the holder of a copyright:
1. to produce copies or reproductions of the work and to sell those copies (including, typically, electronic copies/online)
2. to import or export the work
3. to create derivative works (works that adapt the original work)
4. to perform or display the work publicly
5. to sell or assign these rights to others
6. to advertise or display by radio/video/online
Copyright Registration acts as a strong legal tool to ovoid the infringement and fraudal use of the Copyrighted work.
1. Design registration in India gives the owner, a monopoly on his or her product, i.e. the right for a limited period to stop others from making, using or selling the product without their permission and is additional to any design right or copyright protection that may exist automatically in the design.
2. Designs should not be seen as an alternative to patents but as a complementary protection.
3. Design registration is cheaper to obtain than patent protection and the application process is short.
It helps in stimulating the development of new technologies and also guarantees the investor’s exploitation rights. It also promotes new era and various modifications required in the existing systems and process. The patent provides the user exclusive rights over his object; and this right is ultimately incorporated to the assets of a company. It is really helpful to the company for defining market strategies needed to hit the public target. However, patent rights are granted, only on the fulfillment of some requirements such as: Industrial applicability, inventive act and novelty with regard to the technological knowledge already disclosed.
Due to the creative efforts in the technical field, the inventor who opts for Patent Registration also holds the temporary exploitation monopoly of his creation; which ultimately guarantees him a sort of market reserve.