A trademark is a symbol, word or mark used to differentiate a service or a product from rivals or competitors. A trademark is not a descriptive term for a product. It should and must be a mark that can empower your service to be distinct from the other products in the market. Trademarks are the most important and valuable asset of a business and signify the goodwill of an organization. Trademarks must be thought, registered and used with care.
Trademark registration is the single best the quickest and cost-effective route to develop a cutting-edge market position, monetary advantage and securing business identity. Numbers of business owners do not understand the influence of trademarks and having to secure their intellectual property through trademarks. When a trademark is registered, it grants exclusive rights to the business and the owner.
Selecting a mark: Pick a mark which is strong and can be safeguarded from infringement by the rivals. When a trademark is used illegally or without authorization and leads to confusion, deception about the goods and services, it is called infringement. There a number of marks with varying degrees of a shield. The weak will always have a little safeguard and will have a difficulty in preventing others from using its mark but the strong will always stand protected.
Arbitrary marks: Coined marks are the most powerful. A word like ‘ KODAK’ is a made up or coined term for the products. MICROSOFT is an unpredictable term, used for computers.
Suggestive marks: These marks create an admirable marketing value. For instance, LUX is used for soap but doesn’t depict about it. Suggestive marks receive tremendous safeguard and are the strongest. Some owners confuse suggestive marks with descriptive terms which cannot be registered as trademarks. TRIVAGO is a website for the searching hotel, but the name doesn’t suggest it.
Descriptive terms: These marks name ingredients and qualities that are not considered different and do not entitle to a trademark registration. “National Book Store” for a bookstore, is a descriptive trademark name.
Merely descriptive: These marks can never be safeguarded legally, regardless of as much use and advertising. A website like hotels.com can never be trademarked. A soft drink named “sweet” would also never be registered.
Conduct a trademark search: You must never launch a service or a product line without analyzing and investigating already registered trademarks. It is a cost-effective investment which cannot be compared with anything. If the trademark you pick comes under the clauses of infringement, imagine changing the name of the organization after spending thousands on the services. Also, if the trademark you pick is not unique, the registrar can very file ‘trademark objection’ on the file. Failing to search properly can be easily used against you in the court of law if you were to be sued.
Register the mark accurately: Registered trademarks can both be used as a sword and a shield. The government provides you with the notice of you exclusive rights. The notice is the showcase of your rights to the world, even if someone is unaware of your authority.