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TaxTMI 
Introduction
A registered trademark is a type of intellectual property right that gives the owner exclusive privileges. Irrespective of the size of the firm, trademark registration has become essential in today's competitive world. More and more people are attracted to register their trademarks because of the advantages associated with doing so. There are some misconceptions regarding trademark registration that prevent individuals from registering their marks. In this article, we will discuss some common myths regarding trademark registration.
What is Trademark Registration?
The term trademark is the legal term for 'intellectual property'. The meaning of a term is established through usage as a symbol, word or words legally registered or used to represent a company or product. You can also say that a trademark is usually a name, word, phrase, logo, symbol, design, image, or a combination of these elements. A trademark identifies the brand owner of a particular product or service.
What are the myths related to trademark registration?
Following are the 6 facts related to trademark registration:
1. Cost of trademark registration is high: The most common belief regarding trademark registration is that trademark registration is an expensive process. There is a set amount to be paid for registering a trademark. No complaints arise when the name chosen is original, which makes the process faster and cheaper. Choosing a unique name will help you save money on trademark registration.
2. Trademarks and company names are the same thing: A company name is the name of the entity that must be registered when the company is incorporated. Whereas a trademark is a brand name owned by a firm that is associated with its goods and services. For instance, Hindustan Unilever Limited is the name of the business, and it also has numerous brand names such as Dove, Lux and Surf Excel.
3. Small Businesses Can't Register Trademarks: Many business units believe that trademark registration is required only for big companies and if they have a small firm, they don't need to register a trademark. To dispel this myth, we must first understand that trademark registration is essential to protect a brand name and obtain exclusive usage rights over it. Small companies must protect the brand name associated with their products. Brand name protection is important for both small and large business entities to maintain their individuality.
4. Rights apply only to registered trademarks: Many individuals have the misconception that trademark rights are reserved only for those who have a registered trademark in their name. However, once a mark is used commercially in connection with a commercial advertisement or sale, all marks are granted trademark rights under common law. User rights are valid only in the geographic area where the brand is used commercially, and claiming such rights is challenging due to the high standard of proof.
5. Entrepreneurs have the right to assert their trademark rights globally: Trademark registration is geographical. To claim worldwide rights, one must first file a national trademark application and then select an application under the International Trademark Registration under the Madrid Protocol. Trademarks cannot be registered internationally without first being registered in the country of origin.
6. Trademark protection only applies to the use of business logos: Any nation that recognizes trademark rights will grant trademark protection to a company logo that immediately connects with consumers. This is not the only mark that can be registered. Some countries also allow word marks that claim specific words or phrases without requiring a specific font, color or graphic elements. Such trademarks may be used as business names or in various forms of advertising to protect a particular line of products.
Summary
The Trademark Act 1999 specifies a number of grounds on which trademark rights may be challenged when the trademark registration has been in force for less than five years. The registered owner has the sole right to use the trademark once it has been registered with the Registrar. It is important to keep in mind that the right granted is exclusive to the Republic of India. End all trademark convictions delaying you from registering your mark.