International Journal of Advanced Research in Management and Social Sciences

Every successful business has an element of intellectual property (be it a trade mark or a patent or an industrial design or a copyright) as part of its successful business strategy. Trade mark as a branch of Intellectual Property Law has assumed much significance as it represented the source of goods and services and communicated to the consumers on the behalf of the source A trademark is a vehicle of goodwill and brand loyalty and occupies the mind space of the consumer's worldwide, thereby making it more valuable than its present earning capability. It is a carrier for quality and also acts as a great advertising vehicle. A trademark permeates into the mindset of the consumer in such a manner that the cost of the goods or services represented by a trade mark sometimes has no relevance to the physical composition or value of such goods or services. While the law does not make registration compulsory, registration of trademarks provide tangible benefits in the form of ready recognition of ownership and special protective measures against infringement under the Trademarks Act, 1999. The law requires certain sine qua non features for a mark to graduate into a trademark. There is an imperative need on the part of the entrepreneurs particularly young entrepreneurs to know about the significance of trademark as well as process of registration of trademark under the Trademark Act 1999 and Trademark Rules 2017.