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IP and Business:
The Role of Trademarks in Marketing
An enterprises assets may be broadly divided into two:
physical
assets (land, buildings, machinery, finances and
infrastructure)
and intangible assets (human capital, ideas, brands,
innovations
and designs). Traditionally, physical assets constitute the bulk
of
the value of a company. This has changed in recent years as
a
result of the information technologies revolution and the
growth
of the service economy. Companies are now realizing that their
intangible assets such as
brands, inventions and innovations are becoming more valuable
than their physical assets.
The history of using symbols in trade reveals its practical
purposes. Not only does the use of
symbols identify the origin or ownership of the goods or
service, it also carries with it the
guarantee of quality and the goodwill or patronage associated
with the brand.
As every product or service competes with other identical
substitutes in the market, each has to
be easily distinguishable from others through the brand. A brand
serves as a silent salesman
which advertises the goods. It helps guide consumers in deciding
which to purchase. Many
brands have been copied, imitated and passed off. Thus, brands
need to be legally protectedthrough registration as a
trademark.
While brand is a marketing term, it is interchangeable with
trademark, the term used in
intellectual property legal circles.
Protect your trademark. Register now.
A crucial point about legal protection of intellectual property
is that it turns intangible assets
into exclusive property rights, albeit for a limited period of
time. It enables your business to
claim ownership over its intangible assets and exploit them to
their maximum potential. Inshort, IP protection makes intangible
assets a bit more tangible by turning them into valuable
exclusive assets that can often be traded in the market
place.
If the innovative ideas, creative designs and powerful brands of
your business are not legally
protected by IP rights, then these may be freely and legally
used by any other enterprise
without limitation. However, when they are protected by IP
rights, they acquire concrete value
for your enterprise as they become property rights which cannot
be commercialized or used
without your authorization.
To acquire protection under Republic Act 8293 (IP Code), your
intellectual property must be
registered with the Intellectual Property Office of the
Philippines (IP Phils).Registernow.
The next article in All Your Rights Reserved will discuss the
role of trademark infringement and remedies.
August 2010. Volume I, No. 1.
All Your Rights Reserved. * Copyright * Trademarks * Patents *
Industrial Designs * Utility Models * www.ipophil.gov.ph
Intellectual Property Office of the Philippines#351 Gil Puyat
Avenue, Makati City 1200
IP Phils DTI Satellite Offices
Baguio (02) 888-1199 * Bacolod (02) 888-1199 * Cebu (02)
888-1199 * Davao (02) 888-1199Legazpi (02) 888-1199 * Pampanga (02)
888-1199
Iloilo (02) 888-1199 * General Santos City (02) 888-1199
[email protected]
www.ipophil.gov.ph
https://trademarks.ipophil.gov.ph/tmonline/https://trademarks.ipophil.gov.ph/tmonline/https://trademarks.ipophil.gov.ph/tmonline/https://trademarks.ipophil.gov.ph/tmonline/
