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Trademark licensing is the process of permitting a presumed owner or licensee to access a registered trademark in association with specific products, services, or terrestrial regions. The licensee usually provides a royalty amount or a licensing fee for accessing the trademark. The licensor owns the trademark while the licensee acquires the right to exploit the reputation of the trademark.
Here are the different types of trademark licensing that are mentioned below –
Licensing of a trademark facilitates several benefits to the owner and presumed owner of the trademark.
Risk Reduction: The responsibility of managing local marketing, production, and distribution of products are held by the presumed owner, which reduces the direct operational risks of the owner and its other investment requirements.
Here is the detailed way of licensing a trademark in India –
Renewing your trademark ensures that you have exclusive rights to use it in connection with your goods or services, protecting your brand from unauthorized use by competitors.
Trademarks usually need to be renewed after every 5-10 years, depending on the country where it was registered. It is important to check the expiration date to ensure that you do not lose your rights to the trademark.
If you fail to renew your trademark on time, you may lose your exclusive rights to use it. This may allow your competitors to use a similar mark, potentially causing confusion among consumers and damaging your brand reputation.
The process for trademark renewal varies by country, but commonly involves submitting a renewal application along with the relevant fees. It is important to follow the specific instructions provided by the trademark office to ensure that your renewal is processed correctly.
When renewing your trademark, you may have the opportunity to make changes to it. This could include updating the description of products that the mark covers, or making minor changes to the design or words of the mark itself. However, it is important to note that significant changes may require filing a new trademark application instead.