A trademark is a sign that differentiates a company so its products and services are easy to locate and distinguish from those of other companies. Trademark is a kind of Intellectual Property Right. One of the trademarks is the Puma brand which has also the trademark of the “leaping puma” that mark the shoes. Thus those shoes can be identified as Puma their own (e.g. Adidas or Jordan).
It ensures the rights of an individual who creates or produces something. The trademarks are symbols that are posted as indicators of the goods or services of a particular company. Trademarks facilitate the identification of the origins of a given product by customers easily. For example, the customers can search for the Coca-Cola trademark instead of reading the printed fine print on a can of cola. Anyone looking for such distinguishing marks, such as leaping puma or a single strip pattern, should instead ask an agent who designed a sporty footwear. By facilitating the identification of products, labels often encourage producers to engage in the production of their goods. Simply, it would be convenient for a buyer to skip Coca-Cola in the future when a customer tries a can of Coca-Cola and notices the consistency is missing and would purchase another brand. Trademark law fosters these aims by governing the correct usage of trademarks.
In order to help consumers choose one item of a product, it has made it simpler for them to consider the different qualities of an item. Since trademarks have gained commercial and financial value, their value has risen considerably. Counterfeiting is prohibited in the United States since the Trademark Law of 1946.
Trade mark Infringement
The trademark is a very important and needful mechanism through which we can avoid a lot of illegal works done in the field of manufacturing and selling.
Infringement of Trademark means an individual who, by means of authorized usage in the process of a trade, is not registered proprietor or an entity, which is identical or disappointingly similar to the mark as regards products or services for which that mark has been registered, shall be infringed upon a registered trademark. The trademark owner can initiate civil proceedings against a party infringing a registered trademark after the infringement.
According to the Trademark Act, a person who uses such a registered trade mark as his trade name, part of his name, or of his business enterprise or part of his trade in products or services for which the trade mark is registered, it shall infringe the registered trade mark. The person shall be liable for infringement of the registered trade mark. Violation of trade mark indicates that an individual who is not the licenced owner of the mark uses the mark.
If the trademark is unregistered and if someone had used its trademark then it can’t be considered as infringement under Section 27 of Act. But it assures the rights of an original owner under common law rights to take any action against any person for the passing off goods as other person's products, as utilities or remedies provided by a person.
The main objective of the Trademark Act is to protect users of the trademark and to guide on the property of ownership as well as to give legal remedies for the enforcement of trademark rights. The protection of trademark infringement in accordance with Article 29 of the Trade mark act 1999, the violation of trademarks can be applied to or remedied by any person who wasn't the registered proprietor or registered customer, equivalent to the trade mark or disappointedly close to a registered trade mark, by a person who is not a registered proprietor of the trade mark or by a registered user thereof.
In the case of a trademark infringement, the Trademark Act, 1999 grants authorities the power to prosecute the charges against the infringers. The Act defines the term infringement which is widely used. It imposes punishments and penalties on offenders under the Trademark Act. It also extends the period over the registrations of a non-traditional trademark to register it.
Section 28 of Trademarks Act confers the guarantee to the owners by giving the exclusive rights of protection in the identification of goods or services or to permit others to use it in results of payment. The registered owner has the weapon of stopping any people from using their trademark illegally.
Trademark ownership has been linked to innovative behavior and firm performance, found a link with patents and market power, and was regarded by venture capitalists as a proxy for an innovative startup valuation. Because of trademark law, businesses made a lot of money
Registration of trademarks under the Act is valid only in India. To gain trade mark privileges and immunity in other countries, the trade mark must be used and/or registered in those countries. Trademark security is limited to a specific geographical area. Each country where security is required would necessitate a separate registration. To seek immunity outside of India, applications must be filed in each of the relevant countries separately.
The entire field of intellectual property is comprised of the origins of trademarks, the development of the law, trademark research, and trademark systematics are all things which are included in this field of study. As the most available way to quantify a company's brand, company trademarks are available locally, regionally, nationally, and internationally. Patent research can be expanded through the increased availability of historical databases. Emerging methodological solutions, such as Social Network Analysis (SNA), is increasingly used with modern historical data. Expanding the historical national trademark data will lead to the development of new fields of study. In recent years, the increased accessibility to trademark records generated by these intellectual property (IP) institutions such as the World Intellectual Property Organization (WIPO) and the European Union Intellectual Property Office (EUIPO) has led to economic and business analyses using trademark evidence, statistics, and surveys.