There are a number of benefits to registering your design
Let us look at a few advantages of registering a design under a specific Patent office as it is apparent that design registration is actually rather common in the modern era. As well as helping to ensure that a design is protected from imitators, design registrations have the following advantages:
The owner of a design can sue anyone who attempts to copy it once it has been officially registered. By remaining exclusive over their product or industrial design, the owner of the Design is guaranteed to maintain their market share. In 2019, counterfeit items accounted for 3.3% of global trade, which means businesses can sue counterfeiters when their designs are registered.
After 10 years, a design registration certificate can be renewed or extended for another 5 years.
Registration of the design provides legal protection against plagiarism, which is one of its biggest advantages. Other businesses cannot copy, sell, distribute, or duplicate the original design for their products through this process.
The commercial value of the property has increased
Patent authorities register designs to boost the value of the product and increase its marketability. An owner designed product has a higher likelihood of being seen by potential customers.
Fair competition on the market
In the broadest sense, when several innovators register their designs, the market becomes more competitive. Research and development are thereby stimulated, which contributes to more innovation and benefits to businesses and customers alike.
The registration of designs has another significant advantage: they appeal only to customers and are evaluated based on their appearance.
In return for registering a product design, a company or organization is entitled to exclusive commercialization rights. It also improves their intangible assets and contributes to their IP (Intellectual Property) portfolio. In addition to generating additional revenue streams, these assets usually provide excellent returns on investment.
Differentiation of products
In addition to the concept art and design documents that set it apart from others, a registered design includes all of the necessary documents that accompany it. Due to a flawless business model view, the owner of the design essentially has an advantage in their market.
Registered design owners can license their designs to third-party producers after their designs have been registered with a certain patent authority. As a result, they can reap lucrative royalties from the licensee company if they do so inside their own patent jurisdiction.
There are certain benefits to registering designs, but it is important to note that IP jurisdictions differ with regard to design registration rules and procedures. There may be norms set by the World Intellectual Property Organization (WIPO), but Indian Patent Office (IPO) has its own rules. Before applying for a design registration, you should become familiar with all of a jurisdiction’s rules and regulations.