Intellectual Property Rights; not just a term, but a shield for brands

Structuring and shielding a business brand is not a child’s chore. There are numerous facets that need to be measured in order to be legally protected at the initial stage itself. It is highly crucial to check if the brand name is free and available or else this may cause legal trouble later.

Registration of the trademark is critical too, though not a mandate by law, it is still a good idea to register your trademark; it acts as a shield incase of a legal issue that arises as it protects your brand name nationally. If not at the initial stage then sometime later one might expect to expand the business, which is the time when all this legal work comes into play.  

Also registering a Trademark in itself acts as a means of brand protection service in India. At any given point, whenever the business model plans expansion, to defend your brand against violation you need must register your trademark and follow other IPR guidelines as well.

When it comes to online business, getting a domain name is pretty essential. Even if the business is not strictly online and internet is just a medium to publicise the brand, domain name is needed for creating a company website.  It is a crucial factor to register the best before someone else takes it and you are charged extra for something that, if taken in time would have costed you the minimum.

Other essential quality of following the IPR guidelines is that it minimises the damage caused by duplicate brands, not only for the brand but for the people buying it as well. At an initial stage, one is not sure as to how the business design will widen. Despite the fact that any business is at a starting phase, there might be a day that sees exceptional prospects to expand the brand in not just India but across the globe. Hence, It is also important to have a brand identity that is well protected against infringement. For the same, one needs to make sure that the brand is protected against bootlegging of any kind. Originality is an essence of every successful business. Original quality and brand is an integral part of a progressive trade and economy. Hence, if not protected against infringement, the fakes might overtake by stealing the brand identity and creating duplicates that will hurt your brand image and reputation.

There are companies such as Brands and Fakes running successfully that help you identify and fight all kinds of IPR threats prevailing in the economy. Though, it is extremely important that in order to stop this venom of duplicity from spreading into the society, you follow and encourage the importance of IPR.

WHY TO SPEND ON YOUR BRANDS?

Billions of dollars are spent in building up a Company, marketing its services and advertising its products. However, during a God forbidden lean period, the first question which arises is whether a budget needs to be allocated to the protection of the Company’s own brand. The Brand – a Company’s best and ever non-failing asset; and a brand is well mixed with Intellectual Property Right Solutions emanating from it.

Whether or not a lean period, the aspect of protecting one’s own brand has, in recent times, become a more than top priority. While a few wise companies and business owners spend a fortune on protecting their brand, most others do not realize and spend too little or none in this regard.

Why protect or spend money in safeguarding your brand? The answer is quite simple. Allow your brand to be used by infringers or watch it getting diluted without even raising a finger and you end up loosing your company’s best asset. The one asset which gave you exclusivity in the minds of consumers. Loose your asset and you loose your business. Simple!

The commonly used phrase, ‘IPR compliance’ would necessarily mean procuring, defending and safeguarding a brand owner’s intellectual property rights in its brand. So, how and who does this work?

Brand protection services in India is an emerging and potential market and involves IPR protection and compliance. While a few brand owners and companies have their own in-house team engaged in safeguarding their brand, most other companies and brand owners have chosen to engage specialists who provide brand protection services in India. These specialists have their own team of experts who provide comprehensive solutions to your IPR Compliance needs and ensure that your brand is protected for all times to come.

India being a developing market, it is good trend to note that everyday new business owners emerge with their brands and existing companies and brand owners expand their business. But, truth being said, for that same reason, the number of infringers has also been on a steady rise; and along with that number, the various and ever-increasing unique types of infringements in the different fields of businesses and enterprises.

Needless to say, unless you are a billion dollar enterprise which can afford to have its own in-house team, the best way to proceed would be to hire these market specialists to safeguard your brand and the intellectual property rights associated with them. Money spent on this, I would say, is the only money well spent.