Pharmaceutical companies typically use a variety of factors to determine the price of their drugs, including: Development and production costs: Pharmaceutical companies invest significant amounts of money into the research, development, and production of new drugs. The cost of these activities, including clinical trials and obtaining regulatory approval, is factored into the price of the drug. Marketing and Distribution Cost: Marketing and distribution costs may also be considered by pharmaceutical companies when determining drug prices. These costs include expenses related to advertising, sales representatives, and distribution networks. Drug Uniqueness: If a drug is the first of its kind or represents a significant improvement over existing treatments, the pharmaceutical company may set a higher price for it. If a drug has many competitors or is like existing treatments, the company may have to set a lower price to remain competitive. Market demand: Companies also consider the dem
What is Trademark? Different Signs of Trademark | Documents, Search and Process of Trademark Registration
Trademark Registration
(Step 6 of our how to set-up new business guide)
It is strongly recommended for businesses and individuals to register your trademarks for your business name (trade name) as well as products/services name but if it is not possible to register all products/services name, you should at least go for trademark registration of your business name. Other than this, if you don’t go for trademark registration, being the first to use a name automatically confers certain rights of that name for the region that you are using trademark but protection is very limited.
What is Trademark?
Trademark is a unique symbol or word(s) that is used by a business/individual or its products/services (as trade name or products/services name) to distinguish it from others. After registration under trademark act, these symbol or word(s) can’t be used by any other business fall under class in which trademark registration is applied.Trademark is generally referred to a company name, brand/product name/service and/or logo of company and/or firm. Trademark registration can be obtained for business name, brand name, logo, tagline or caption etc.
Different Signs of Trademark:
Most commonly three types of symbols used as indication of trademark claim:™, ®, ℠
TM Symbol is used for indicating Trademark registration applied for any product or business name
® Symbol is used for indicating Registered Trademarks
SM symbol is also used for registration applied for but this is used in case where trademark registration is applied for service instead of product.
Documents required for trademark registration:
- Details related to applicant/s i.e. name, address, nationality etc. Applicant may be individual or firm or company.
- Detail of name/logo/symbol/other particulars that is to be applied for
- Class in which your trade mark fall under
- If the mark contains or consists of non-English words, a translation of those words into English is required.
- Power of attorney simply signed by the applicant (In case of application filled by trademark attorney/advocate and/or legal firm/agency).
- Fees for registration
- Proof for using (In case of already using i.e. invoice copy, advertisement etc)
Search of Business Name for not resemblance with any existing business:
Before going into process of trademark registration, you need to check availability and not resemblance with any existing business name or product/service name. At least name should not resemble in your business niche. Along with searching of trademark availability at trademark portal, you should also search at other possible means i.e. searching at search engines (e.g. google, bing etc) or social networks (e.g. facebook, linkedin etc).Few steps are discussed below:
- Search at search engines (e.g. google, bing etc) or social networks (e.g. facebook, linkedin etc) for any existing business with same name specially in your business niche.
- Search at intellectual property website i.e. http://ipindiaonline.gov.in/tmrpublicsearch/frmmain.aspx at trademark search section for any existing trademark or registered trade names related to these names.
- Search in business niche related business directories.
Process for trademark registration:
- Choose your business name (possibly along with logo)
- Search at different place for not resemblance to any existing business name
- Search for trademark availability through government trademark search portal
- Search for any legal firm/trademark attorney for applying trademark or apply by own online
- Select appropriate class from 1 to 45 Classes. (Class depend upon nature and category of your business)
- Application submission for Trade Mark registration
- It takes 3 working days for trade mark department to issue Trade Mark application Number but it takes 6 months to 2 years for Trade Mark registration if your application don’t receive any objection otherwise it may take more time.
- Advertising of trademark by government public gadget before acceptance for trademark registration (Objections and oppositions are invited by government from public/stakeholders before going in registration process)
- Hearing before registrar if your trademark faces any objection
- Hearing before registrar if your trademark faces opposed
Other Steps:
Check out : Sixteen Easy Steps to Set-up New Business
Step 1: Market Research
Step 2: Business Plan
Step 3: Arrange Finance for Business
Step 4: Finding a premises for Business
Step 5: Name your business
Step 1: Market Research
Step 2: Business Plan
Step 3: Arrange Finance for Business
Step 4: Finding a premises for Business
Step 5: Name your business
Step 7: Registrations and Licenses
Step 8 : Product Selection for Business/Start-up
Step 9: Name a Product and Service
Step 10: Recruit Staff/Employee
Step 11: Execute your business strategy Effectively
Step 12: Promotion and Marketing of Business
Step 13: Supply Chain: Set-up a Distribution Channel
Step 14: Recruit Sales Staff
Step 15: Start taking Orders
Step 16 : Closing the sale (Supply Goods/services and collect payment)
Step 8 : Product Selection for Business/Start-up
Step 9: Name a Product and Service
Step 10: Recruit Staff/Employee
Step 11: Execute your business strategy Effectively
Step 12: Promotion and Marketing of Business
Step 13: Supply Chain: Set-up a Distribution Channel
Step 14: Recruit Sales Staff
Step 15: Start taking Orders
Step 16 : Closing the sale (Supply Goods/services and collect payment)
Hope above information is helpful to you...
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