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Why Startups Need To Focus On Trademarks To Build A Strong Brand Identity

Why Startups Need To Focus On Trademarks To Build A Strong Brand Identity

A trademark, as the term suggests, is an intangible intellectual property (IP), which may be in the form of a word, symbol, design, logo, or an amalgamation of any of these. All these things set the identity of a business entity and make it different from others. Trademarks not only carry the identity or recognition of a business but also enhance its goodwill, thus helping in getting new clients.

According to Section 2(1) (zb) of the Trade Marks Act 1999, a trademark refers to any mark capable of being represented graphically and which has the capability to distinguish the goods and services of one person from those of others. This may include the shape of goods, their packaging, and the combination of colours. 

Deducing from this definition, a trademark can be any mark used by the business, either conventionally or non–conventionally that carries the ability to signify its presence as different from others and represent the business. The protection of a trademark, therefore, carries vital importance for any startup. 

Importance Of Trademark Protection

The trademark of any startup not only represents its entity but also the goodwill and brand value associated with it. The value of the brand and the value of its trademark are directly proportional to each other. Therefore, the importance of any trademark cannot be undermined. Here are some of the reasons why you should protect your mark: 

In fact, recognising the nation’s startup potential, the Indian government has provided numerous reliefs and benefits for start-up trademark registration.  The normal fee for filing a trademark is INR 9,000 in one class, but a startup gets a 50% relaxation.

Best Practices For Trademark Protection

The protection of a trademark is critical for any startup because it carries the startup’s image and brand value. Losing or infringing on a trademark can be a huge setback for a startup and result in unanticipated losses. As a result, it is critical to secure a trademark by registering it under the Trademarks Act with proper legal assistance. 

Here are some steps a startup can take to improve and protect its brand identity in relation to its trademark: 

Conclusion

Trademarks are extremely important to any startup, and every effort should be made to protect them from any infringement of intellectual property rights or unauthorised use. Any lapse or omission in trademark protection may result in losses or identity theft, resulting in the Company’s market share and goodwill being lost. Trademarks function as an investment in one’s own brand. In the long run, they create immense goodwill and offer a huge customer base.  Therefore, it is necessary that startups start being vigilant about trademark protection

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