Trademark
Any symbol, word or object used to represent goods or services produced by a company when legally registered becomes a Registered trademark. Trademark has become indispensable with a growing increase in the number of units in the business sector, and it provides a unique identity to each company.
In the long run, trademark helps in creating a good reputation about their goods and services among the members of the society and gives the registered company a right to institute legal proceedings against those who replicate their trademark. In India, all the rules and regulations regarding trademark is governed by the Trademarks Act 1999. It provides rights to both manufacturers and service providers. Trademark infringement is said to occur when a person uses a trademark similar to or identical to the trademark of any other company which has already registered its trademark. In such cases, the person who has infringed, is held legally responsible to pay compensation to the other company for the losses which it might have incurred. In a similar scenario, if the company had not registered its trademark then it loses its right to claim compensation.
