When you are about to institute a business it is important to think protecting your brands. Applying for Trademark is one of those means through which we can ensure our brands are protected from being abused. Trademarks are highly valuable assets. Developing and protecting trademarks is not a mere “cost of doing business,” but rather an investment that can be used as an IP collateral.
Though applicants have the liberty to file or not file a trademark because trademarks are granted on First-to-Use basis wherein a mark is assigned to a party merely if it has used it in past. Still, viewing the long term benefits going for a nationwide US Trademark Registration is advisable. With this article we have come up with 10 benefits an applicant can avail if they file for a US trademark registration.
Protects against confusingly similar marks: Once a trademark application is filed by an applicant the United States Patent and Trademark Office has a legal duty to assess if the mark meets the basic criteria like uniqueness and distinctiveness. In case two marks are confusingly similar the application that appeared later in the process will be turned down. Thus trademark registration protects against registration of confusingly similar marks.
Creates a brand value in the market space: Various researches have proved that marks that are sold under registered name are taken much seriously by the customers and it is a kind of good signal that creates brand value in the market.
Make your product distinct from others: A registered trademark means you have met the criteria of distinctiveness otherwise it would have been not granted in the first place by the USPTO. This makes your brand distinct and lets customers find you without putting much stress on their eyebrows.
Offers nationwide protection: With US trademark registration a trademark is protected nationwide as of the application date. This becomes important when a party doesn’t want to limit their protection based on geography.
Overrides common law: In a First-to-Use system wherein common law exists it is important to protect a mark in the entire country. A US trademark registration can override marks that are not registered and are under common law. With this, an applicant can ensure their marks are safe and protected from any kind of potential litigation.
Evidence of validity and exclusive ownership: A US trademark registration serves as evidence of the validity and exclusive ownership of the mark for the goods and services listed in the registration.
Grants the right to use the ® symbol: A national trademark registration grants the right to use the ® symbol when the mark is used for the goods and services listed in the registration.
Grants the right to sue in federal court: A US trademark registration gives rights to its owner to sue a party in the federal court if it is infringing on its mark.
Makes owner entitled to significant monetary recovery: A US trademark registration makes the owner entitled in certain cases to obtain treble damages and attorney fees, thereby providing for potential significant monetary recovery in appropriate cases
Provides a basis for foreign registrations: A US trademark registration could be of immense use when you are expanding your business to other foreign countries as it may be used as a basis for foreign registration.