5 steps guide for trademarking your MSME business

Posted on Friday, September 8th, 2023 | By IndusInd Bank

Whether you’re taking your first steps into the entrepreneurial world or already steering a business ship, the concept of branding should be firmly etched in your strategy. No longer reserved for corporate giants, branding is the cornerstone of modern business success, even for solo entrepreneurs. In this comprehensive guide, we’ll navigate the critical journey of branding and trademarking, helping you establish a unique brand identity and secure it for the long haul. 

Step 1: Crafting Your Distinctive Trademark 

The heart of any solid brand is a distinctive trademark. This could be a word, a phrase, a symbol, a logo, or even a specific color palette. A well-crafted trademark is the beacon that guides customers to your offerings. When choosing your trademark, remember these essential points: 

A. Concision: Keep it short and snappy. 

B. Memorability: Strive for something that lingers in the minds of your audience. 

C. Uniqueness: Avoid generic terms that blend in with the crowd. 

D. Distinctiveness: Craft a trademark that stands out, aligning with your business’s essence. 

 Step 2: The Logo: Color vs. Black & White 

In a world driven by visuals, logos are the face of your brand. They encapsulate your brand’s essence in a single glance. When trademarking logos, consider these pointers: 

A. Trademarking a colored logo protects the exact color sequence. Variations fall outside the scope. 

B. Choose colors that resonate with your target audience and align with your business identity. 

C. Your brand identity should revolve around the colors embedded in your logo. 

 Step 3: Navigating Trademark Availability 

Before proceeding, a crucial step is ensuring your chosen wordmark or logo isn’t already in use. This step prevents potential legal entanglements down the road. Utilize the Trademark Registry’s tool to conduct a thorough search. 

For businesses spanning multiple categories, it’s vital to verify availability across each. A pro tip: If your logo integrates your brand name, you can streamline the process and reduce costs by applying for both trademarks simultaneously. 

 Step 4: Choosing the Perfect Trademark Class 

With your brand identity firmly in place, it’s time to embark on the trademark registration journey. This starts with selecting the most suitable class for protection. The trademark registry offers a whopping 45 classes catering to diverse products and services. Make sure to align your choice with your business activities. 

For businesses spanning multiple categories, individual applications for each class are necessary. Remember, protection extends solely to the class applied for. An accurate description of your goods and services is pivotal. While customization is allowed, altering the class post-application is off the table. 

Intriguingly, consider a comprehensive description that encompasses your long-term goals for a cost-efficient and robust protection strategy. 

 Step 5: Spotlight on Usage Date 

If your brand name or logo has been in active use, highlighting this under the “user date” section in your application is crucial. In India, precedence often favors those who’ve been using a name or logo prior to others. This can potentially give you an edge, even if a similar trademark application is submitted by a newer business. 

Conclusion  

While your journey into branding and trademarking unfolds, never underestimate the significance of managing your finances. In today’s fiercely competitive business landscape, a firm grip on financial matters is paramount. Here’s where IndusInd Bank Current Accounts come to your aid. Beyond branding, these accounts offer a strategic toolkit to navigate the intricate terrain of modern business. 

IndusInd Bank offers tailored banking solutions with their industry-specific current accounts. These accounts are designed to cater to various industries, such as IT/ITes, agro, textile, telecom, shipping, import & export, and many others.  

• With IndusInd Bank Current Account, you can choose an easy-to-remember account number, such as anniversary date, mobile number, or lucky number.  
 
• Additionally, you can group current account with related savings accounts to simplify the monitoring of the account balances.  
 
• IndusInd Bank Current Accounts come with flexible cash deposit limits that can adapt to the changing requirements of your business.  
 
• We also provide digital payment solutions, such as POS devices, QR codes, Soundbox, and Payment Gateway solutions, enabling you to accept cashless payments from vendors, customers, and more.  
 
• You can enjoy user-friendly online banking portals and mobile banking apps that make banking on-the-go a breeze with the Indus Merchant Solutions App. 
 
• IndusInd Bank’s premium doorstep banking services such as cheque pickups, on-call cash pickups, etc. will ensure that you get more time to focus on your business. 

To open a current account digitally with the ideal banking partner for your business – Click here.  

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision.  IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.