A word, name and symbol especially the one legally registered as a trademark is known as the brand name. It can be used by manufacturers or merchants to identify their products distinctively from other products of the same type. Usually, it is prominently displayed on its goods and it is used while advertising the product. It is very crucial to get the brand name associated with the product registered due to the number of reasons. The article below states the various benefits of registering a Brand Name.
Benefits of Registering a Brand Name
Following are the benefits of registering a brand name -
- Protect Brand Name - As soon as the brand name get registered the owner of the brand name get the exclusive rights over it. If anybody else makes an application to register an equivalent, or maybe an identical name then his application will be rejected by the department. In case no action is taken by the department then the holder of the trademark is also empowered to make an opposition throughout the four months when it's revealed within the trade marks journal.
- Safeguard Brand Value- Registration of a brand name protects the brand value of the product or the service. It helps the brand to solely reap the benefits of the goodwill created over the years and prevent the competitors to take any undue advantage.
- Right to file a suit- Trademark registration empower the holder to sue the competitors and get relief in case of infringement/misuse of the trademark by the competitors.
- Sell/ license/ Transfer- Registered trademark is an asset for the business entity. Thus the holder of the registered trademark is empowered to sell/lease/transfer the registered trademark against any amount of money.
- Give a status of branded product- Brand name registration helps the business entities to acquire a status of branded products for their goods. That assists in creating a brand image in the minds of people and thus increasing the sales.