The practical need for trademark registration - the hallmark of any business
The trademark is the special and distinctive sign under which every successful business develops and grows. Agree with us on this - the work that is done to plan, build, implement, optimize and impose on the market of a business venture, is presented to the end user of a particular product or user of a service under a particular brand.
It is the brand that is memorable, products that are provided to the consumer, conscious choice of products of specific retailers of products offered to its competitors. In this regard - the reinforcement that is created to build and make available the brand for average consumers by the business - from the creation of corporate and brand identity, mandatory marketing strategy and various strategic techniques and decisions, must be taken assured and protected by end products from the "life" of a trademark, namely registration and as an object of intellectual property.
It is important for the trader to understand that the right to a trademark arises only from the moment of filling an application for its registration. From that moment on. The trader has the right to use it, dispose it, as well as to prohibit third parties using a sign in their work and commercial activity that is identical or similar to his without his consent. The imitation of a registered trademark is subject to authorised legal protection.
The significance of trademark registration is not only expressed in legal weight and value, including aspects of unfair competition, but also has its own economic significance. The brand not only individualizes the product – in the form of its product or service, but also affects the specific market share.
The meaning if the brand is to create and maintain a market for the specific service/product under the specific with certain charactheristics and distinctiveness. Therefore – it affects both the revenue and profit of the company – owner of the brand.
In addition, the brand is an accounting asset that increases the value of the company in the event of its acquisition by a third party, respectively – contributes to finding investors, including venture capital.
Also, the registered trademark can be used as a tool for successful investments – it can be transferred, licensed, contributed, etc.
Trademark registration is essentially an administrative procedure, the complexity and need for specialized expertise in the field should not be underestimated or neglected.
>Trademark registration is an essential administrative procedure, the complexity and the need for specialized expertise in the field shouldn’t be underestimated or neglected.
In this regard, we at Taurus Design Group are happy that from 2021. We have successfully started cooperation with some of the most respected professionals in Bulgaria in the field of intellectual property and all aspects of civil and corporate law, in the face of law firm “ Rashev and Partners”.
Our partners are prominent experts in the field and our clients will receive preferential prices and conditions for assistance in registering their trademarks and all other services provided by the office.