In the present era of rapid advancements and cut-throat competition, the
importance of Intellectual
Property (IP) is exponentially increasing. Besides significance,
thefts and unauthorized uses of IPs are also multiplying, thus making the
owners think about the protection of their valuable IP. Amongst the several
ways in which one can safeguard his/ her IP assets, trademark registration
appears to be the easiest one when it comes to the protection of the
businesses’ unique brand names, logos, or slogans. Apart from preventing the
use of one’s hard work without his/ her permission, the trademark serves him/
her business with remarkable goodwill and reputation. And this is what makes it
the foremost choice of many entrepreneurs and companies worldwide.
Trademark is assuredly emerging as one of the excellent kind of IP and
interests more and more businesses, you still need to comprehend some
frequently used terms while planning obtaining protection for your mark. In
this article, we will explain a few important trademark terms in simple and
understandable language.
1. Trademark
It can be anything like a
sign, symbol, name, sound, or word that distinguishes its proprietor’s products
or services from that of others.
2. Class
A trademark class represents a distinct group of goods and services. As
per the NICE Classification, which is an international classification system
followed by most registries, the class of goods and services to which the
trademark pertains must be specified in the application. There are many
trademark classes, and each class holds various goods or services, which are
not always obvious from the class name. Under NICE Classification, goods and
services are divided into 45 classes, out of which 1-34 define goods while
34-45 include services.
3. Priority Claim
Priority claim refers to a right given by the majority of countries
worldwide to the applicant of a trademark that has been filed for the very
first time. Under this, the applicant applying for registration of a mark for
the first time is granted the right to claim priority while filing applications
to register the same mark in other countries within six months from the date of
the first filing. If priority is claimed, the second application would be
considered as having been filed on the same date of the first filing. As a
consequence, the applicant will enjoy prior rights against applications filed
by other parties from the date of filing in the first nation.
4. Infringement
Trademark
Infringement is an issue, which occurs when a mark that’s
identical or confusingly similar to another company’s trademark is used without
the owner’s permission.
5. Trademark Journal
It is where the mark is
published if the application hasn’t been refused by the duty officer during the
trademark registration process. In this way, the Trademark
Law provides the public with a legal opportunity to file an
opposition against the registration of the associated mark. Note that the
opposition should be filed within a limited period before Trademark
Protection is granted.
6. License
It is an agreement amid a trademark owner (licensor) and another party
(licensee), where the licensor allows the licensee to make specific and limited
use of his/ her trademark. These licenses are often subject to royalty
payments.
7. Symbols ® and ™
The symbols ® and ™ represent that the term on which these are put is
someone’s trademark. ® means that the trademark is registered with the
associated registry, and this symbol cannot be used before the Trademark
Registration Process is completed. However, ™ can be used if the
company is using its mark as a trademark even though it hasn’t yet applied for
their mark.
8. Distinctiveness and descriptiveness
As the prime purpose of a trademark is to identify its origin, it must be
distinctive to the consumers to be accepted by the registry. In general,
arbitrary trademarks like Blackberry and fanciful trademarks like Nike are
considered as the most distinctive ones. Along with being distinctive, your
trademark should be descriptive, i.e., it describes some characteristics like
the quality, quantity, value, origin, or intended purpose of the goods or
services. Descriptive trademarks cannot be secured as a trademark unless their
extensive usage enables them to have acquired distinctiveness.
The above information will hopefully prove beneficial for you, no matter
whether you want to register your trademark or provide your Registered
Trademark as a license to any third party. In other words, the
data will help you in protecting as well as monetizing your trademark.
For more
visit: https://www.trademarkmaldives.com
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