HOW CAN ENTERPRISES GET BENEFIT FROM THEIR BRAND?

Trademark is a distinctive sign used to distinguish goods or services produced or provided by one enterprise from those of other enterprises. Enterprises with protected trademarks would have the following benefits:

  1. Exclusive use

Trademark registration gives the entity the exclusive right to use that trademark. This will prevent others from marketing identical or similar products under a trademark that are either identical or confusingly similar.

  1. Brand is one of the longest lasting business assets

A registered trademark can last for a very long time, as long as it is used and renewed. They can last for a very long time and thus give your business a long-term competitive advantage. They have value beyond your core business and often pave the way for the expansion of your business into other products. There are long-standing brands such as: Balenciaga, Louis Vuitton, Hermer, Chanel, Samsung, … ..

  1. Control import and export goods

Control of intellectual property-related import and export goods at borders plays an increasingly important role in detecting and preventing counterfeit goods and infringing intellectual property rights from entering the domestic market. .

Registered trademarks are easier for enforcement because they carry presumptive ownership. In addition, a number of countries have installed systems that allow customs authorities to inspect and seize goods that violate registered trademarks. In Vietnam, the Circular No. 13/2015/TT- BTC clearly defines the intellectual property right holder, if detecting that the consignment for which the customs office is carrying out the customs procedures shows signs of infringement of the intellectual property rights that they have been protected, they have the right to file a request (Attach a trademark registration; A detailed description of goods infringing intellectual property rights, …) to the local Customs Department for suspension of customs procedures for such shipment. After receiving a complete set of valid applications, if the application is accepted, within 02 working hours, the Director of the local Customs Department shall issue a decision to suspend customs procedures. This decision will be immediately sent to relevant organizations and individuals.

  1. Trademarks may be “sold” or licensed

An enterprise can transfer the right to use (license) its trademark or franchise its protected trademark to other companies, thereby generating additional income for such company. According to the Ministry of Industry and Trade, as of June 12, 2020, Vietnam has licensed 262 foreign entities for franchising in Vietnam, including popular foreign brands such as: McDonalds , Baskin Robbins (USA), Pizza Hut, Burger King (Singapore), Lotteria, BBQ Chicken (Korea), Swensens (Malaysia), Karren Millen, Coast London (UK), Bvlgari, Moschino, Rossi (Italy) … The most general franchised areas from foreign brands in Vietnam are fast food chains, restaurants; furniture retail stores, cosmetics, other consumer good etc.; fashion; educations…

  1. Exploiting financial value

A registered trademark can be used to receive sponsorship from financial institutions. Depending on the country, there will be different policies to support SMEs. In Canada, for example, the Canadian Business Development Bank offers a wide range of sponsorship, indirect funding and advisory services to Canadian businesses, focusing on small and medium-sized enterprises (SMEs) with policies such as:

  • Start-up funding for a new business
  • Small Business Loan up to $ 100,000 within 5 working days
  • Mortgage loans help businesses realize projects that are important to the growth and success of the business and limit risks to cash flow

T2H Law Liability limited company

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