Trademark is unique signs competent of being described geographically that are used to identify goods and services from one person to another. It is classified under intellectual property. A trademark protects intellectual property rights.
Intellectual property rights permit people to maintain ownership rights for their products and services.
The trademark includes a name, word, sign, symbol, logo, graphic, design, or a combination of these which help the business to distinguish them from other businesses. It is an important asset of the company. Trademark goods provide authenticity and quality of goods. With the trademark selling of goods and services become easier because it becomes easy for the customers to identify the product from the other competitors. It protects the businesses from other businesses.
By registering the trademark one can stop others from using a similar name or doing a similar business. Trademarks are territorial. For example, one company has registered a trademark in India. Then similar trademarks can be used in different countries. If one company has their production unit in India and they are selling their products internationally, for example, in the US then they need to take a trademark in the US to protect their product from getting copied.
Trademark and its rights are protected by Trademark Act, 1999. Trademark Act gives the right to police to give punishment and penalties to the offenders. In India, trademark law is classified under class1 to class 45. To get protection from the trademark right one has to register for a Trademark. Trademark is renewed every 10 years.
Fees for the trademark are related to each class, whether for initial application or renewal. For registration of trademark separate fees has to be paid for each class of goods and services. Currently, India is promoting new startups and entrepreneurs under the scheme ‘Atmanirbhar Bharat’. Under the scheme Atmanirbhar Bharat, the government is granting a 50% wave-off in the registration fees for trademarks.
Thus Settlemytax helps the new businesses to get their trademark with the least bother and simple process in just a few steps. SMT’S expert team will provide all the information related to the trademark and will help to gather the required paperwork. Settle my tax expertise team will ease the legal formalities and assist the business to get a trademark easily.