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An overview:
There are different types of intellectual property such as Patents, Industrial Property, Trade Secrets, Copyright, Geographical Indicators. Trademark is one amongst them.Trademark is a word, symbol, or phrase which is used to identify a particular manufacturer or the product of seller and distinguish their product from the products of another.It is also called the registration of the brand name. The provisions related to trademark are provided under the Trademarks Act, 1999.To become King of your business, you must protect your ideas under intellectual property rights. You must register your trademark and protect it from any kind of misuse by third party. Trademark protection can extend beyond the word, symbol or phrase to include other aspects of a product such as its colour. Trademark make it easier for the consumers to quickly identify the source of a given product. In today time customer knows the name of the brand only not the person who made it. If it is taken by someone else, then it could spoil the hard work of many years. Hence it is advisable to get their brand name registered before start of the business..
Protection of Brand
A Trademark Registration establishes ownership of a brand, name, or logo. It safeguards your brand against unauthorized use or misuse by the third party. This establishes that the product totally belongs to you, and you have the exclusive rights to use, sell, and modify the brand or goods in whichever manner you want. Trademark is none other than having the sole right to use your brand name.
Valuable Assets
Trademark Registration is a valuable asset for your organization which will keep appreciating over the time. The value of your trademark gets automatically scaled up as the company grows. It means as your company grows, the value of trademark will also appreciate and they continue to grow in value over the time.
Ensure Uniqueness with distinct identity
Every business wants a brand or logo that differentiates their product from the product of others and this can be achieved by getting the registration of your trademark. A registered logo provides your brand with a distinct and unique identity.
Tool for Communication
A registered trademark can be easily identified that which brand your product belongs to. For example, you can easily identify a Apple product by seeing the silver color half bitten apply on any device as the registered trademark speaks for themselves as they are the most simple and effective communication tool.
Easier for consumers to identify the product
Trademark make it easier for the consumers to quickly identify the source of a given product as they are unique in their identity and can be easily traceable and customers can reach your product easily.
Trademark Lasts Forever
Once a trademark registered, it will remain for forever over the life of the business. It will be renewed after every 10 years.
Maintains Quality and Standard
Trademark also give manufacturers an incentive to invest in the quality of their goods as if the quality of the product lacking then consumer will shift to another brand in the future.Thus, trademarks convey a certain standard and quality of the product that consumers can easily identify.
One of the main trademarks, words and service marks are used to identify the products and services of a trading company or the company providing services. This common trademark, words marks, is used when your product or service is text-based. Service marks help differentiate services that are available in the market. You can file these trademarks under trademark 35-45 classes.
We can categories the appearance of the products under shape marks, and we can identify and register the products based on their appearance or packaging. The descriptive trademarks examples are the bottle of Coca-Cola, which is different from other brands due to the shape of its bottle.
Another descriptive trademark example is logos and symbols. A logo or symbol is a painted or printed figure, design or character (except letters, words or numbers). The trademarks are used as logos or symbols, a different type of trademark is called logos and symbol mark. You must register for words and services, logos and symbols trademarks in a single application, and this single application is only valid in India.
As its name, we usually link this type of trademark with a group of individuals with more than one product or service. These trademarks are majorly owned by an institute, organization or association and are used by the members to represent themselves as one. Further, the collective trademarks are “badges of origin” used to denote the specific source of products or services
The series mark denotes a family of marks that shares a common name and differentiates based on distinctive characteristics such as price, quality, goods and price.
Another common type of trademark in India is the certification mark, and these trademarks are used to show specific standards of quality owned by the company. Certification marks help create awareness among the public about the trader’s certified goods and services.
he products’ unique nature, quality and reputation come under the geographical indicators trademark granted to natural, agricultural handicrafts products and manufactured products with a geographical origin.
Unique Mark of Identity
One look at the trademark, and the consumer connects it with a company. It could be the name on the logo, the design, and the colours. Consumers do not even have to read the words to figure out what it means. One look should tell them what it is all about. For example, the shoe brand Nike doesn’t always have the words on its logo, but most people know what the brand is all about.
Asset Creation for the business
A trademark is an intangible asset for the business that add value to its product and business. It is a marketing tool for your business. Like in the real estate business, the value of asset appreciated over the period of time, the same is the case with the trademark. The value of trademark grows as the business grows. Trademarks can also be purchased sold or can be used as a security like the tangible assets for obtaining loan from the Financial Institutions.
Build Trust and Loyalty
Trademarks represent the reputation and excellence of a good or service. Registering a trademark develops confidence and recognition among customers in the market. Moreover, it aids in the development of loyal and long-term clientele who will consistently pick your trademarked brand over others.
Legal Right to use the ® Trademark Symbol
Once a trademark gets registered, you can use the ® symbol with your logo which represents that it is a registered trademark/brand name, and no other person can use a similar trademark. It means you get the exclusive rights to use the trademark and if anyone uses your trademark without your permission, you can sue for the infringement of your rights in the court of law.
Trademark Registrations can be enforced against the Company Name
As per the Companies Act, 2013, the name of the company cannot be similar or identical to the registered Trademark.This provision can be used to block the names that the company intends to use for future. A company name cannot be similar or identical to that of a trademark. Therefore, once a trademark is registered, a company cannot be registered in the same name. This provision of the Companies Act, 2013 can be used by Entrepreneurs to block company names that they wish to use in the future for their business. Further, it is important for existing business owners also to register a trademark in their business name to avoid any complications in the future.
Marketing Tool
For every business to grow exponentially, one of the most important things is that people should know about the existence of your business and for the same,businesses spend a lot on a range of advertising medium such as Digital Newsprint, Radio, TV, etc to promote their brand among the consumers. If a brand is not trademarked then it can be claimed or misused by anyone. Therefore, it is important prior to the beginning of advertisement that you shall file the trademark application first.
Trademark registration Validity
Trademark registration is valid for the 10 years. During the 10 years, no fees, no legal obligations and any other statutory requirement regarding the trademark maintenance to be done. Further it can be renewed just before the expiry of the trademark certificate thereby protecting the trademark from the third party. Hence it can be maintained forever.
Attracts Human Resources
Popular brands are known for attracting young talent. Furthermore, young minds want to work for large corporations as it ensures greater perks and more stability in pay. Trademark registration puts forth a positive picture of an organization. Moreover, this diminishes the expense of recruitment and other related exercises.
Among all, the first step involved for the process of company incorporation is ascertaining the availability of name. A company is identified through its name it registered on the Ministry of Corporate Affairs. Hence choosing an appropriate name is the important and crucial thing.
For the same, an application will be submitted for the reservation of name to the Ministry of Corporate Affairsby login to the sitehttps://www.mca.gov.in/mcafoportal/login.do and preference wise 2 names along with the business objective can be provided. Once the name gets approved, it’s reserved for 20 days within which applicant needs to complete all the remaining process for the incorporation of the Company.
Stakeholders shall ensure that the proposed name selected does not contain any word as prohibited in Section 4(2) & (3) of the Companies Act, 2013 read with Rule 8 of the Companies (Incorporation) Rules, 2014.Points to be considered while suggesting the name:
-Check Trademark for your proposed name on the site https://ipindiaonline.gov.in/tmrpublicsearch/frmmain.aspx
– Check domain for your proposed name on the site https://www.registry.in/index
-Check the availability of Company Name on the site https://www.mca.gov.in/mcafoportal/viewCompanyMasterData.do
Therefore, choosing an appropriate name which does not prohibit any law will be the most important thing.
There is also another way to finalize the name of company and its incorporation in one go i.e., apply name and company incorporation together. However, if the same has been rejected by the MCA, then all the documentation will be done again
Once the name gets approved in PART A, the basic details will be automatically filled in all linked forms of PART B. There will be total 4 linked forms which will be generated such as AGILE-PRO, Spice+ MOA, Spice + AOA and INC-9. These linked forms will be filled up with the necessary details like capital subscription, name of shareholders and directors, percentage of holding among the shareholders, Interest of shareholders in other entities, etc.
For completion of the Part B, many other details and documents will be required which is discussed as below:
For the E-filing of all the forms, Digital Signature is a mandatory requirement. Digital Signature is in form of digital key containing all the information about the registered signatory like name, address, Contact No, Email ID and the authority detail which has provided the certificate. All the forms will signed digitally by the authorized signatory by proving its identity through the Digital Signature Certificates.
Director Identification Number is a unique identification number of 8 digits for the directors of a Registered Company.Every director will be provided a unique number with which he will be identified by the MCA. To become a director, one shall apply for getting the DIN from the MCA.To applying DIN, the applicant has to make an application in e-Form DIR-3 and shall follow the below mentioned process
This form is for GSTIN, Employees Provident Fund Organization registration, Profession Tax Registration, Opening of Bank Accounts, Shops and Establishment registration.
It is mandatory to register for ESIC, EPFO, Professional Tax (for Maharashtra) and bank account opening to obtain AGILE-PRO via e-form, However, GSTIN Registration is optional for the applicants.
MOA is a document which contains all the fundamental information about the company, the objectives of the company in brief, the share capital, type of Shares whether equity or preference and its shareholders details, details of allocation of shares among the shareholders along with their name, address and occupation, etc. Company can perform and undertake only those activities that are mentioned in the objectives of Memorandum of Association beyond which the company cannot undertake any other objective but the Memorandum of Association (MOA) can be amended with the approval of the shareholders.
As per Section 4 of the Companies Act, 2013, Companies shall form MOA as specified in Tables A to E of Schedule -I of the Act. Below is the list of tables with their meaning:
Table A: Company Limited by shares
Table B: Company limited by guarantee and not having a share capital
Table C: Company limited by guarantee and having a share capital
Table D: Unlimited Company and not having share capital
Table E: Unlimited Company and having share capital
Hence Company shall adopt an appropriate table applicable to it as there are various forms of tables for different companies.
AOA defines the rules and regulations that govern the internal management of the company for achieving its objectives.
Various forms in Tables F to J for different companies have been mentioned under Schedule I of the Companies Act 2013 and AOA must be in the respective form.
Table A: Company Limited by shares
Table B: Company limited by guarantee and having a share capital
Table C: Company limited by guarantee and not having a share capital
Table D: Unlimited Company and having share capital
Table E: Unlimited Company and not having share capital
Declaration shall be given by the subscribers and directors in the form INC-9 that:
Once all the above documents and details are ready, then the application for the incorporation of the company can be made via e-form Spice accompanied by Spice MOA and Spice AOA with the registrar under whose jurisdiction the address of the company is located. All these e-forms need to be affixed by the Digital Signatures of the respective persons.
The Registrar of Companies will grant a Certification of Incorporation along with the Copy of PAN, TAN, EPF, ESIC which will be used as for the identity of the company existence.
Once the company gets incorporated then there are many compliances which need to be performed by the company
The Company within thirty days of its incorporation shall furnish to the Registrar of Company regarding verification of its registered office by filing the e-form INC-22.
INC-22 shall be downloaded from the Ministry of Corporate Affairs site and any of the following document will be attached with this form:
Every Company incorporated shall within 180 days of its incorporation shall file the declaration for the Commencement of the Business with the Registrar of Company. It is the declaration regarding that all the subscribers to the MOA have deposited the total value of the shares agreed to be taken by them in the Company Bank Account. Proof for the same shall be attached while filing the form INC-20A. Bank Statement shall be used as the evidence for the same.
COMPLIANCESPRO has a separate team which is expert in completing this complex process very easily and helps you to get the company registered within 3 daysonly in a very reasonable price.
