Why Renew a Trademark?

A trademark helps companies and businesses safeguard their brand image. It basically prevents individuals from stealing your logo, brand name, or brand image. As a result, anyone who has managed a company or business understands the significance of having a valid trademark. In any case, it is likewise similarly essential to leave sure that the imprint you have is legitimately substantial. Renewing a trademark is of the utmost importance because each one has a time limit.
Do you still have questions about how to renew a trademark or the significance of doing so? Why trademark renewal is necessary and how to do it quickly are discussed here!

What is renewal of a trademark?

The owner of a trademark has the option to renew it indefinitely every ten years. Before the ten-year period ends, the trademark holder has six months to renew their trademark and keep the rights granted by the Registrar. The registrar will announce in an advertisement in the Trademark Journal that a trademark will be removed if a person fails to renew it.
 
The person has the option of restoration, which is the same as renewal but comes with a fine if the trademark is not renewed after ten years.

Advantages of Renewal of a Trademark in India :

Keep Opportunities for Business Growing 

If you want your business to grow continuously, having your trademark renewed on time can be very helpful.
 
If you want your company to do well, a trademark can be a very useful intangible asset. Through permitting arrangements or even the exchange of possession to intrigued or involved parties, many organizations can bring in a ton of cash in eminences.

Returns on Investment 

A trademark owner owns the exclusive right to license or assign a registered trademark to another person for money. This should be known to you; As a consequence of this, a trademark that has been registered might allow you to make money.

Create Your Own Personality 

Registering your trademark is the first step in ensuring that your customers will be delighted to recognize your services or products. After that, the law will make it illegal to register similar terms or slogans for any other products or services.

Litigation Chances are Reduced

You can have continuous trademark protection without the risk of litigation if you comply with the requirements and renew your trademark on a regular basis. The recharging of brand names makes it hard for anyone other than the brand name proprietor to guarantee freedoms to the enrolled mark.

Documents needed for Trademark Renewal:

• Existence of a registered trademark in the proprietor’s/possession owner’s (Copy of the Registration certificate)
• For eligibility, the determination and intention for commercial use should be reviewed (Copies of the Proof of same).
• You must conduct a Trademark Search of the well-known and licensed trademark database to ensure that there are no similar trademarks.
• Copy of Application form for trademark registration – Form TM-A Power of Attorney to represent the Applicant Address proof and Photo ID of the Applicant
• If there is a trademark conflict, it is prudent to seek legal advice for a viable solution. (Copy of the Conflicted Trademark Proof)
• Prepare and obtain a renewal application in order to meet the appropriate condition.

In order to avoid missing the deadline for renewing your trademark registration in India, it is critical to begin the process well in advance of the expiration date. You can easily renew your trademark registration and safeguard your brand for an additional ten years by adhering to the necessary procedures and submitting all of the required documentation. Contact us today at My Financial Advisory.