Big companies are not made overnight so does the big brands; brand name needs consistent vigilance, marketing and also a sound legal strategy. Often, big brands face a continuous challenge to curb entire market and throw out any knock off names that are confusingly similar to their brand names. So, why this brand vigilance is important? Today we will share the reason for the same.
Generally, big names have high credibility and prestige associated with their name and therefore, the target customers trust and look forward to purchase the branded goods, their products are largely sold just because of their esteemed brand name commonly known as Trademark. Any knock off or counterfeit product circulation may harm adversely the brand, in case these counterfeit product circulations are increased. It tarnishes brand image and also hits their revenue big time.
So, generally Companies are very diligent in protecting their trademarks and takes swift legal actions against all knock off and similar brands circulating in market.
Let us explain this in details a chanel bag is largely recognised due to its logo
i.e so therefore, the company has filed variety of trademarks in all forms and also in various jurisdiction and also take prompt actions against all the companies or seller that are even selling remotely similar logo bags in the market.
So, why these companies do so, the prime reason is, firstly it helps their potential customer to be safeguarded against the counterfeit products and secondly, it helps in maintaining their brand image in the market and further, prevent their brand from dilution.v
Big companies regularly keep a track about their Trademark infringement and also any knock off registration.
It has been seen in case a company keeps a vigilant eye on their brands, it considerably improves their sale and defeats the purpose of their competitors who simply wants to free ride their brand value and recognition in market.
Generally, pharmaceutical companies keep a strong eye on small companies who are mostly prompted to apply for similar names of medicines that can be confused with big companies medicines name.
This may hamper the sale and also may confuse the end customer and therefore, actions against such brand names is essential and proves to crucial to any company’s legal or marketing strategy.
It has been seen in case you are not guarding your brand actively, your brand sale may see a downfall of anywhere between 30-40 percent, so it always to keep a trademark watch.
One simple way in which you may do so, is keeping a track of regular Trademark Journals that are weekly published by Trademark registry online at their website www.ipindia.nic.in, each Trademark Journal has atleast 6000-7000 trademarks published in single Journal. Most of the times Trademark Journals are published with complete details about the marks as well as the owner of the Trademarks. Most Trademark Journals are also published class wise.
One must keep a regular check about all similar marks that are accepted as to take a first legal action against such marks is limited. This action is known as Trademark Opposition in India. Anyone can oppose the accepted and advertised mark within 4 months from the date of publication of the Trademark in Trademark Journal.
Trademark opposition is simple and quick action to stop free-riders and knock off brands.
