In this post, we are discussing a very very important topic that is useful for startups and established businessmen, i.e; the Trademark Renewal. We shall explain the stepwise process, timeline, documents required and the overall cost to renew a trademark. Please watch the video up to end and subscribe to Setindiabiz YouTube Channel for regular updates on compliance, tax and IPR. The validity of trademark registration expires after ten years. However, the registration of a trademark can be renewed at any time subject to timely filing of a renewal application with correct trademark renewal fees. Before I explain regarding the renewal of the trademark, lets me briefly clarify as to why it is essential for a business to register its brands and what are the benefits of having a valid registration of the trademark. There are three significant benefits of having a trademark and continuously renewing it.
- The registered trademark provides legal protection of stopping anyone from copying the business identity by filing a suit of infringement and can also seek compensation for illegal usage of the brands.
- Trademarks are the most valuable intangible asset that a company can have. You may earn a substantial license fee once you acquire significant goodwill on your brand.
- The most important of all the benefits is the unique identity that your brand will bring to you. It is worth protecting and renewing.
The Validity of Trademark: The Registration of Trademark is valid for 10 Years from the effective date of first registration. The effective date is the date on which the first application for trademark registration was filed. With every renewal of trademark, the validity of trademark registration is extended for another ten years.
Time for filing for Trademark Renewal:
- The application for Trademark Renewal must be filed before its expiry. You may be able to file the trademark renewal application One Year prior to the expiry of its registration.
- In case the registration of the trademark has lapsed as it was not renewed within its validity. With an additional surcharge in government fee, the Trademark can be renewed within six months of its expiry.
- If the trademark application is not renewed, before its expiry or with additional fee within six months of the expiry date, then the trademark registration gets cancelled.
- A Cancelled trademark can be restored if an application is filed within six months of cancellation.
Cost and process of Trademark Renewal: The government fee for Trademark Renewal id Rs 10,000 if the application for the renewal is filed before the expiry of the trademark. The application for trademark renewal is filed in Form TM – R.
What will happen if I forget to file for Trademark Renewal: If the trademark is not renewed within its due date then it can still be renewed within six months of grace period from the expiry of the registration. However, in that case, you have to pay an additional fee. In case you miss renewing the trademark even within the grace period then the mark gets cancelled. A cancelled mark can be restored within one year from the date of its expiry.