Friday, July 24, 2015
Importance of Trade Mark Registration in the Retail Sector
With the advent of globalization and expansion of trade and industry, protection of intellectual property is essential for any business enterprise. A strong brand acts as a source identifier and is an invaluable asset for the enterprise. In the retail sector, creating and protecting a brand image is an absolute necessity. Apart from creating goodwill, a brand image is vital in aiding the retailer in venturing into new markets. It is very important for the retailer to choose his brand wisely and take appropriate measures in protecting it. The strongest way to protect a brand is a registered trademark. A trademark may consist of words, letters, symbol, logo, combination of colors, shapes etc. to name a few. A trade mark registration confers upon the owner, the exclusive right to use his brand. Registration also empowers the owner to obtain legal relief in case his trademark is infringed by others. Another important facet of registration is that the owner has the power to assign his goods to others. Even though it isn’t an absolute necessity for owners to apply for trade mark registration, it is highly recommended since the process of enforcing rights becomes much easier and cheaper.