Why register your trademark?
Why register your trademark?
Published on february 21 , 2023
Kelly Melissa Cruz Benítez - Legal Collaborator
Intellectual Property is the normative discipline through which intellectual creations resulting from human effort, work or skill are protected.
The exclusive right to use it to identify goods or services for a period of 10 years, renewable indefinitely. By registering a trademark, attempts by unfair competitors to use similar distinctive signs are hindered. Civil actions for damages for unauthorized use of the trademark are granted. It raises the value of a company, since trademarks are subject to valuation, thus increasing the equity value. A company or business with a registered trademark will have a higher value compared to one whose trademark is not registered. It grants the possibility of granting licenses or franchises so that, in exchange for royalties, a third party may use the trademark. It strengthens the trust, commitment and linkage of consumers and customers with a legally stable trademark. It generates an agile and massive positioning of the brand in digital channels. Minimizes the risk of confusion or imitation in the market, since it allows identifying the company, products and services, without the risk of confusion with those of the competition It is composed, in principle, of copyrights and related rights (interpretation, original recordings and broadcasting of works). On the other hand, industrial property is mentioned, which includes patents, utility models, industrial designs, trademarks, trade names, emblems, expressions or signs of commercial advertising, industrial or commercial secrets, geographical indications and appellations of origin. The difference between these rights is based on substantive issues: patents protect inventions, copyrights protect literary and artistic works, trademarks protect certain distinctive signs, industrial design rights protect the formal appearance of products and utility models protect technical inventions that solve technical problems.
Most Intellectual Property Rights (IPR) are registered rights; some formalities are required to invoke the right, in particular, that the registration is made before the competent authority. Such registration is valid for 10 years from the date of its registration, except for the registration of a patent, whose validity is extended to 20 years.
Trademarks are signs that distinguish the goods or services of one company from those of other companies. Often, trademarks consist of letters, words or names. However, phrases, logos, images, designs, jingles, colors or scents can even serve as trademarks. This allows their owners to prevent others from using identical or similar signs to identify goods or services identical or similar to those of the trademark that has been registered, if there is a likelihood of confusion as to their commercial origin. Trademarks are the only intellectual property right that has no limitation in time; these, being rights with patrimonial content, can be inherited, therefore, the registration of trademarks is renewable indefinitely. While the exclusive right over a trade name ends with the extinction of the company or establishment that uses it.
From an economic perspective, trademark protection creates incentives for its holder to invest in the quality of trademarked products. Among other advantages are:
The exclusive right to use it to identify goods or services for a period of 10 years, renewable indefinitely. By registering a trademark, attempts by unfair competitors to use similar distinctive signs are hindered. Civil actions for damages for unauthorized use of the trademark are granted. It raises the value of a company, since trademarks are subject to valuation, thus increasing the equity value. A company or business with a registered trademark will have a higher value compared to one whose trademark is not registered. It grants the possibility of granting licenses or franchises so that, in exchange for royalties, a third party may use the trademark. It strengthens the trust, commitment and linkage of consumers and customers with a legally stable trademark. It generates an agile and massive positioning of the brand in digital channels. Minimizes the risk of confusion or imitation in the market, since it allows identifying the company, products and services, without the risk of confusion with those of the competition It is composed, in principle, of copyrights and related rights (interpretation, original recordings and broadcasting of works). On the other hand, industrial property is mentioned, which includes patents, utility models, industrial designs, trademarks, trade names, emblems, expressions or signs of commercial advertising, industrial or commercial secrets, geographical indications and appellations of origin. The difference between these rights is based on substantive issues: patents protect inventions, copyrights protect literary and artistic works, trademarks protect certain distinctive signs, industrial design rights protect the formal appearance of products and utility models protect technical inventions that solve technical problems.
Most Intellectual Property Rights (IPR) are registered rights; some formalities are required to invoke the right, in particular, that the registration is made before the competent authority. Such registration is valid for 10 years from the date of its registration, except for the registration of a patent, whose validity is extended to 20 years.
Trademarks are signs that distinguish the goods or services of one company from those of other companies. Often, trademarks consist of letters, words or names. However, phrases, logos, images, designs, jingles, colors or scents can even serve as trademarks. This allows their owners to prevent others from using identical or similar signs to identify goods or services identical or similar to those of the trademark that has been registered, if there is a likelihood of confusion as to their commercial origin. Trademarks are the only intellectual property right that has no limitation in time; these, being rights with patrimonial content, can be inherited, therefore, the registration of trademarks is renewable indefinitely. While the exclusive right over a trade name ends with the extinction of the company or establishment that uses it.
From an economic perspective, trademark protection creates incentives for its holder to invest in the quality of trademarked products. Among other advantages are:
- 1. The exclusive right to use it to identify goods or services for a period of 10 years, renewable indefinitely.
- 2. By registering a trademark, attempts by unfair competitors to use similar distinctive signs are hindered.
- 3. Civil actions for damages for unauthorized use of the trademark are granted.
- 4. It raises the value of a company, since trademarks are subject to valuation, thus increasing the equity value. A company or business with a registered trademark will have a higher value compared to one whose trademark is not registered.
- 5. It grants the possibility of granting licenses or franchises so that, in exchange for royalties, a third party may use the trademark.
- 6. It strengthens the trust, commitment and linkage of consumers and customers with a legally stable trademark.
- 7. It generates an agile and massive positioning of the brand in digital channels.
- 8. Minimizes the risk of confusion or imitation in the market, since it allows identifying the company, products and services, without the risk of confusion with those of the competition.