TRADE MARK

YOUR BRAND IS YOUR MAIN ASSET… REGISTER!

What is a brand?

It is a set of elements that when merged allow companies to identify and distinguish their products from competitors, so it becomes an asset and a very important competitive tool for the company.

• A sign that allows to distinguish or differentiate products or services in the market. It has two main characteristics: It must be possible to represent it graphically and must be able to distinguish itself from others.

• A brand may consist of words, pictures, letters, numbers, objects, emblems or figurative, three-dimensional elements, etc.

• The owner of a brand can be a person, a company, a group or association
Brand types

• Denominative: letters and word.

• Figurative: Image, Mixed symbols: Graphic words and symbols

• Three-dimensional: Packaging, wrapping, bottles

• Auditives: Corporate music, jingles

• Olfactory: By presenting formula

It is of great importance to protect the trademark by registering it with the National Intellectual Property Service SENAPI since from that moment the protection of the same is born through civil and criminal actions in the event that third parties infringe the use of it.

The registration of a brand gives the company the exclusive right to prevent third parties from marketing identical or similar products with the same brand or using a brand so similar that it may create confusion, in terms similar to patents.

Moreover, if the company does not register the brand, other companies could use (knowingly or without being aware of it) for their own products the same sign or a similar sign that leads to confusion. Your competitors could adopt a similar or identical brand and take advantage of the reputation and relationships you have created with your customers and business associates. This will not only decrease the company’s profits and confuse its customers, but will damage its reputation and image, especially if rival products are of inferior quality.

Who can request a trademark registration?

The micro, small and large companies of Bolivia, associations of producers, manufacturers, legally established service providers.

How long is the trademark registration?

A trademark registration lasts 10 years and can be renewed indefinitely for 10-year terms and renewal must be requested 6 months before the expiration date of the registration or up to 6 months after its expiration.

Benefits

• Acquire the exclusive right to use a brand.
• Prevent third parties from marketing identical products with the same brand or with a similar brand that may create confusion.
• Help to obtain financing as it shows greater seriousness of the producer or company.
• It allows companies to differentiate their products from others that offer similar products or services.
• They encourage companies to develop their products or services with better quality.
• A brand that projects excellent image and reputation, gives a great advantage over competitors at the time of marketing.

In conclusión

Although it is not mandatory, it is highly recommended to register a trademark for the exclusive and exclusive rights it grants.

Most companies understand the interest of the use of brands to differentiate their products from those of their competitors, however, not all are aware of the importance of protecting it through registration. Due to the great importance that a brand can have in determining the success of a product in the market, it is essential that it be given adequate protection.

Any infringement in the field of trademarks can be enforced before the courts, which in most judicial systems have the power to impose measures to prevent such infractions.

In addition, it is much easier to grant a license on a registered trademark to other companies, which would represent an additional source of income. Brands may also be subject to franchise agreements.

A brand that enjoys a good reputation among consumers can also be used to obtain financing from financial institutions, which are increasingly aware that the commercial success of companies depends largely on brands.