Importance of Trademark Registration
Both businesses and individuals need to register their trademarks for maximum gain. Firms offering advices on trademarks as well as how to register them exist. On registration of a trademark, official rights of usage are gained. Legal tussles are avoided when registrations are attained due to registration of trademarks. On registration, official rights are gained on trademarks and become individual property. Registered trademarks can be hired since they become assets. Trademarks need to be renewed every now and then. Annual registration and licensing may make renewals applicable. There are a variety of advantages enjoyed upon trademark registration.
Ownership of exclusive rights is one of the main advantages of trademark canada registration. Individuals and companies are granted exclusive use of trademarks by republic laws. Goods and services covered by the trademark policy can bear the trademark. Different companies have different trademarks thus enabling differentiation of goods and services offered. When the trademark is now used by other parties, the firm which has registered the trademark has rights to sue for compensation. It is only on registration that one gains legal rights on a trademark.
A registered trademark acts as an assets and security. Registered trademarks can be used by firms to secure loans from lenders since it function as a security. By this, the trademark acts as property for those who registered them. The assets value of a registered trademark is intangible. Goods and services bearing trademarks have the benevolence of the firm. This adds the firm’s assets and value. Registered trademarks can be sold out to others. Through registration, a trademark gains value. Companies and individuals wishing to use trademarks as properties must register them.
Registered trademarks can operate as licenses and aid in fighting counterfeit products. On contravention, those who have registered the trademarks can institute a legal actions. Both the business and the trademark are separate parties. This gives owners of registered trademarks advantages of being able to transfer the business and the trademark at separate ways and even to different persons. The validity of registration is possessed by those who possess the certificate of registration. Once the trademark has been registered, the registered symbol or word may be used for the good and services listed in the registration. Expansion of business can be obtained through registered trademarks since they are globally accepted. This allows a business to expand. Registered trademarks aid in preventing importation of counterfeit goods. Goods bearing trademarks are the original products. This aids to easily notice fake goods. It is a prime necessity for firms and individuals to register their trademarks. It is on registration that the advantages of a registered trademark can be experienced.