What is trademark?
Trademark is nothing but a company or business’s logo, tag line, brand name, website name, or product name by which the customers recognize or differentiate the products or services of one company from another. In simple trademarks are nothing but a special sign used by a business or organization to identify them. Trademark is considered very important by many businesses in India still, there are many other people who think it is just an add-on.
Why trademark has to be registered?
Trademark registration implies lawfully getting the right to utilize the brand name or trademark by getting a registration certificate from the Indian Trademark office. When you are starting a business first we look for a name, logo, tagline, etc. which will differentiate you from other companies. This is why phoenixtax- tax consultant in Chennai says it is necessary to protect your trademark from being misused by other companies, or industries. This is not only about stealing your unique name, design, or logo but also your hard-earned reputation as a business among the customers.
To protect your business’s trademark one has to register under trademark ACT 1999. Once your unique trademark is registered it has to be renewed every 10 years. This means as long as you keep renewing the trademark it will not expire and will continue to be under the protection of the Act. If you are looking for trademark registration in Tambaram, Chennai get in touch with the cities best tax consultants today.
What is considered as a Trademark?
As a responsible tax consultant we would like to give you a detailed description on what is considered as a trademark.
- Words or Phrase
- Numbers or Alphanumeric
- Punch line/ Tagline
- Any symbol
Who is eligible to apply for trademark?
According to trademark ACT 1999 a trademark can be applied by an individual, business organization, charitable trust or Government Agency who uses or purposes to use the brand name for commercial purposes. The trademark will belong to that individual, or company whose name and details are furnished in the application of registration.
What is not considered as a trademark?
Phoenixtax- tax consultant in Chennai suggest not to use the following names or unique signs as trademark.
- Generic/descriptive names
- Closely similar to existing trademark
- Names similar to well-known brands
- Names of national importance
- Prohibited trademarks
- Words hurting religious sentiments, misuse of emblems
Benefits of trademark registration
If you are a new start-up and don’t know the importance of trademark registration in Tambaram, Chennai then read the following benefits which will help you understand the necessity of trademark registration.
- Legal Protection: Once your unique sign is registered under Trademark ACT 1999 then nobody will dare to copy it. Once you have registered your trademark it confers to the right to use of the trademark in relation to the “Class” of goods or service it represents. The symbol TM can be used with your product once you have filed for the trademark registration process. The symbol R is used only after obtaining the registration of the trademark certificate. Further, symbol ® is used for goods/services listed in registration services.
- Helps customers identify products: Trademarks are unique and trademark registration will differentiate your product and services against the product and services of your competitors. Also, trademark registration is available for a complete class of goods and services this will help customers identify your product, therefore, creating a customer base for your product.
- Brand recognition: Most often customers recognize a product and its service by its logo, brand name, and color, etc., Trademark registration creates goodwill among the customers, facilitates brand recognition, and carries a market value as well.
- Company’s asset: It is an intellectual property that is recognized as an intangible asset for accounting, and income tax purposes. Trademarks can be sold, franchised, allotted or commercially misused in some other way. You can perceive the cost or value related with the trademark in the books of records, and furthermore guarantee a derivation for deterioration and perceive pay for the same.
- Helps in expansion of your business: According to trademark registration certificate a trademark can be rented or royalty can be earned, Franchising also depends upon trademark license and transfer.
Documents required for trademark registration
The following documents are to be submitted to Phoenixtax- tax consultants in Chennai for procuring trademark registration certificate for your business.
- Soft copy of your businesses logo
- Authorization letter or form TM-48
- Date of first use of the mark
- Name and address of the owner of the trademark
- PAN card of the proprietor
- For special concession in Government fee MSMED certificate or startup India certificate.
- Required fee
Trademark class and classification
- For manufacturers – class 1to 34
- For traders- Class 35
- For service providers- Class 35-45
Process of Trademark registration
- Trademark selection: The first and foremost step to trademark registration is to choose the unique sign that correctly signifies your product and services.
- Identify the class: There are about 45 classes out of which 34 classes are for manufacturers and 35th class is for traders and for service providers 35-45 is used. It is essential to identify under which class your business falls. Your tax consultant wll help you find the right class for your business.
- Trademark search: A trademark must be unique therefore phoenix tax consultant in Chennai advice to thoroughly check whether the trademark exist already. To make sure if your trademark is unique you can get in touch with a trademark agent in Phoenix tax consultant in Tambram,Chennai who can help you pick the best trademark for your business.
- Fling the trademark application: there are two option to file trademark application
- By filing form TM-1 you will be registered only for that specific class you have chosen. The applicable fee amount is Rs.3,500
- By filing TM-A your trademark will be registered for multiple classes, or series of trademarks. If you are a start-up then the applicable fee amount is Rs.4,5000 for e-filing and Rs.5, 000 in person. If you are nt a start-up or anew enterprise the you will be charges Rs.9,000 for e-filing and 10,000 in person.
To avoid any mistakes while filing for trademark registration certificate we advise you to consult the best tax consultant in Chennai. Confirmation of trademark registration will be done in 15-20 days.
If you are a business in Chennai looking for trademark registration services contact the tax consultants who can guide you for a hassle-free process of trademark registration in Tambaram, Chennai