A trademark (TM) is a designation by which the goods and services of one undertaking can be distinguished from those of another. However, a trademark is not just a logo or the name of your brand, it is a valuable asset for a business that will provide protection against unfair competition and copying. This article will explain why it is important to register a trademark, how to do it, and how to use a registered trademark for the benefit of your business.
Registration of a trademark contributes to the protection and development of your brand, enables you to compete in the market and creates a legal basis for protecting your intellectual property.
Furthermore, you will be entitled to the rights conferred by a trademark certificate not from the moment of registration, but from the moment of filing an application. In Ukraine, it takes up to 2 years to register a trademark (up to 9 months under the accelerated procedure), therefore there is no need to wait so long to start enjoying your trademark rights.
A trademark grants a business owner a wide range of opportunities. Apart from the fact that you can safely use a trademark for your own products and services without worrying about getting hit with a lawsuit, you can also prohibit other manufacturers or service providers from using your or a similar trademark for the goods or services specified in your certificate. Some of the important business benefits of registering a trademark include protection from unfair competitors, customer recognition and trust, and the ability to enforce your rights in court.
The trademark certificate grants its holder the exclusive right to prohibit others from using identical or similar trademarks for goods and services specified in the certificate or related to them without consent. This gives you a relative monopoly on your trademark and allows you to compete effectively in the market.
As an example, Apple has a registered trademark “iPhone” for its smartphones. This registration grants Apple the exclusive right to use this name for mobile phones, as well as goods and services related to them. When other manufacturers attempt to market smartphones under the name “iPhone” or similar names, Apple may seek to stop such use, in particular, by filing a lawsuit for infringement of its trademark rights.
A registered trademark promotes the recognition of your product or service among consumers and inspires trust in your brand. Not only does it make it recognizable, but it also emphasizes quality and reliability. This factor is essential for consumers when making a purchase decision.
Registration of a trademark entitles you to legal protection in case of infringement of your rights by other companies. You can seek reimbursement of damages and cessation of illegal use of your trademark through litigation.
A trademark is geographically limited, i.e. it is only valid in a certain country. There is also a possibility of regional registration ( e.g., registration of the EU TM, which is effective in 27 member states) or international registration under the Madrid system, enabling you to register a TM in several or all countries party to the Madrid Agreement by filing a single application.
There are many consulting companies providing assistance in registering trademarks both locally and abroad. In Ukraine, registration of a trademark on your own does not constitute a complicated procedure and consists of several stages.
The price of trademark registration depends on the number of classes you choose. The cost of one class is UAH 4000. If you submit an application through the electronic cabinet, you will receive a 20% discount.
Trademark registration is completed by obtaining a certificate. The certificate is valid for 10 years, whereupon it can be renewed. It provides you as a business owner with a number of opportunities:
All in all, trademark registration is an important step toward protecting and developing your business. A trademark certificate grants you legal status and exclusive use of your brand, which helps you combat unfair competitors and ensures customer recognition and trust.
A registered trademark provides you with a wide range of opportunities, including licensing, franchising, effective advertising, and court protection. Thus, by obtaining a trademark certificate, you ensure both economic and reputational protection for your business, which is an important factor for further growth and success.
1.Introduction. New wording of the Law. On 17 November 2023, the Draft Law on Amendments to the Tax Code and the Law of Ukraine on Virtual Assets (the "Draft Law") was submitted to the Verkhovna Rada. This Bill was long awaited because since the adoption of the Law on 17…
Estonia, due to its attractive legal regulation, favorable tax conditions and ease of administration, is popular among investors. Many entrepreneurs choose this particular jurisdiction to register their business. However, after registering the company, shareholders always face the question of how to distribute dividends in the company. Therefore, this article is…
Cyprus is often chosen as a place of incorporation for companies due to its favorable tax jurisdiction. This country has long been famous for its low tax rates, efficient company management, and high level of flexibility in solving legal business issues. In this article, we consider in detail one of…