DO I NEED TO TRADEMARK MY BUSINESS NAME? …
DO I NEED TO TRADEMARK MY BUSINESS NAME?
If you have not trademarked your business name yet, it could cost you millions to protect in the future or you might even lose the rights to use it, according to your business. Considering the application for a trademark costs a few thousand of rupees and you can fill out the paperwork yourself in minutes, trade marking your company name is a wise idea.
You acquire trade and service marks through consistent use of a mark. As with copyrights, there is no requirement that you register the trademark. There are significant advantages, though, to registering your mark with the Indian government and Trademark Office in your locality.
Search your company's name with the TESS (Trademark Electronic Search System) Database, suggests the INDIAN SITE. Small Business Administration. Even if you do not end up registering a trademark, you want to make sure that you are not using a trademarked name. Trademark infringement could result in punitive damages and giving up any profits earned while you operated under a trademarked name.
Even if you do not register your name you can still use a mark you have adopted to identify your goods and/or services. Anytime you claim rights to a mark, you may use the "TM" (trademark) or "SM" (service mark) symbol, regardless of whether you filed an application with the INPTO. But registering your mark will offer you added protection under trademark law, including giving you the ability to bring action in court concerning the mark and obtaining registration in foreign countries. The mark ¨ can only be used after the mark is actually registered with the INPTO.
Trademarks prevent the confusion that could occur if multiple companies used the same or similar business names and/or logos, according to. The legal process of trade marking exists to send out a formal notice that a business is declaring exclusive rights to a name in a certain geographic location.