Today, the business is confronting worldwide with cut-throat rivalry at each alcove and corner of the universal field.
With new products and ideas being replicated almost instantly in the wake of being launched, it is currently unavoidable that the new age business proprietor instantly registers his product and obtains a Trademark in respect to his product or service mark with respect to service.
Trademark Infringement is serious wrongdoing which can result in catastrophic circumstances for the replicated brand in terms of losing market share and for the stealing brand in terms of instalment of punitive damages and causes loss to the next gathering by spoiling its picture in the market.
Scenario Where Trademark Infringement Filing is Always Crucial
No, it is not always necessary that the gathering which files the lawsuit is on the correct side because there might be cases where a company registers a name but does not use it for a significant lot of time.
A brand may lose its market share; subsequently prompting massive financial losses due to dilution of its product personality.
In such a case, the accused gathering can argue not guilty as it is using the name which is not being used by the accuser and is just registered for it.
No penalties can be exacted in such a case, and the lawsuit itself can be held void.
Know the Trademark Technicalities
There are various technicalities associated regardless of whether a name has been registered as a Trademark.
The registered ® symbol is mandatory to decide the relevance of lawsuits and can be the separating point amongst winning and losing the lawsuit.
A Trademark can be registered regardless of whether it is for future use ahead of time so as to maintain a strategic distance from any shortcomings in the future.
The registration of the Trademark ranges from a couple of months up to 2-3 years.
It is not mandatory that the product is bought by individuals for a Trademark to be utilized, it should suffice that the product is in circulation in the market.
Legal assistance in case of infringement
A duplicated product or even a unique product with the same name, but in the same class of goods which have been replicated can seek legal assistance.
Following is the procedure of filing a claim:
An abused gathering can document a grievance redressal or a lawsuit in case another brand has misused its name.
A cease and desist letter is sent as a notice to the infringer which is usually easier and less tedious than a lawsuit.
On the off chance that the infringer continues to use the replicated name and refuses to go along, a lawsuit might be recorded.
The infringer becomes solely obligated to compensate for the losses borne by the brand owning to the infringer's wrongdoings, and he will be constrained by law to pay adequate damages for his actions.