The Micro, Small, and Medium Enterprises (MSME) programme promotes the growth of small businesses in our nation. The programme, also known as Udyog Aadhar, provides the enterprises with a number of advantages. Companies in the manufacturing and service sectors that have investments under Rs. 10 crore and Rs. 5 crore, respectively, may register under this plan. Enterprises registered under MSME schemes can avail several government benefits.
It offers support with market expansion, product improvement, and technological advancement. Aside from that, it offers subsidies for power rates and capital investment. Furthermore, MSMEs can register trademarks for reasonably low prices. Notably, it is a quick procedure that can be completed online.
Essentially, the MSME programme promotes the expansion and development of small businesses and helps them compete successfully with already-established top brands. Because there are numerous identical products in the market, trademark helps your company stand out from the competition. To safeguard themselves against infringement, businesses must take advantage of this choice.
Let’s examine how trademark registration might be a bonus for a business that is registered as an MSME
1. Each brand stands alone. As a result, it won’t be available for use by any other company’s goods or services. Therefore, MSMEs will have defence against any infringers.
2. Businesses are getting much more focused on their customers. Trademarks will promote consumer confidence in the brand and enhance its reputation. This will help MSMEs distinguish themselves from established corporate brands.
3. On top of that, it is a company’s intangible asset. By renting it out or selling it to a third party under a contract, MSMEs can also use it as a revenue stream.
4. The trademark may be used by MSMEs for marketing purposes. Customers can more readily identify with the brand and its products or services as a result of its popularization. This may help them grow their company both domestically and abroad.
How much is the registration fee?
Typically, proprietorship businesses must pay Rs. 4500/- per class each application to the Trademark Office, whereas non-proprietorship businesses must pay Rs. 9000/- per class per application. A registration cost of Rs. 4500 per class per application is, however, required of businesses having MSME registration. It is marked here that MSMEs are eligible for 50% subsidy on trademark registration.
What documents are required?
The registration procedure is rather straightforward and just requires a few documents. The MSME registration certificate, identity and address proof of the applicant, address proof of the organization, copy of trademark to be registered, and MSME registration certificate are the documents needed for MSMEs to register their trademarks.
Conclusion:
The classes in which the businesses want to file for trademarks should be carefully considered. This makes it essential to fully comprehend the NICE classification. Once trademark is registered, it is valid for the tenure of 10 years; therefore, in order to reap its benefits, businesses should be sure to renew it on time. Additionally, businesses should be aware that a trademark registered in India is only valid for use there. It does not provide global protection. Thus, if you are thinking about expanding your company internationally, make sure to register a trademark in the respective nation.