- Not registering the trade mark
Many entrepreneurs, owners and managers of small and medium-sized enterprises and companies believe that intellectual property protection, in particular trade mark registration, is not important for the development and growth of their business.
A widely spread mislead is that taking steps for trade mark registration is aimed at the large (often multinational) companies only.
This however is completely wrong and in many cases might cost significant losses to your business.
Each company, regardless of its size and turnover, could benefit from the registration of its trade mark as it confers the exclusive right.
- Not carrying out a preliminary search
Use of a trade mark without a preliminary check if it is free and not in conflict with any identical or similar marks for identical or similar goods/services could lead to a scenario, where you might infringe third parties’ rights.
This might cost you significant financial losses, time and efforts and in some cases even your most valuable asset – your reputation – and in all cases it is not a good way to start your business.
- The belief that the registration of the company name and the domain name is sufficient
The company and domain name(s) registrations provide different protection when compared to trade mark registration. In Bulgaria the registration of a trade mark shall confer on the proprietor exclusive rights therein - as of the date of application.
- The failure to renew the registration
Contrary to the rest of the IP rights, the protection of a trade mark is potentially eternal, as once registered, it could be renewed limitlessly for further 10-year terms of protection.
- Incorrect use and designation
It is crucial to use your trade mark according to the rules for avoiding loss of distinctiveness, designating your IP rights in the correct way (including notifying your competitors), etc.
To ensure that you derive all the benefits from the registration of your trade mark, as well as from your efforts for its market promotion and recognition, and that you will not "miss" any infringer, our advice is to consult with a professional industrial property representative.
At Kolev, Angelov & Miteva we know the value of great customer service. For any IP matter you can reach us at: + 359 887 36 23 60 or firstname.lastname@example.org - Rositsa Marinova, Head IP Practice.