Trademarks: Valuable Assets In A Changing World

From the shopping mall to the local hardware store, we are exposed every day to a stunning array of trademarks - distinctive signs that transmit a myriad of subliminal messages relating to authenticity, origin, quality, reliability, prestige, advantage - that scramble for con sumers' attention, whispering "buy me, I am better than the competition. I am what you need!" Trademarks and the legal protection they afford play a pivotal role in commerce. On the one hand, they contribute to market order by defining various important rules of business and on the other, they help consumers in their buying decisions.

Extremely valuable assets, even in tough economic times, trademarks strongly influence purchasing behavior as consumers make more careful decisions, often reverting to "tried and trusted" brands. So in good times and bad, investing in trademarks and brand development makes sound business sense. Trademarks and the legal rights associated with them underpin the complex network of licensing and franchise agreements that can be the source of highly lucrative revenue streams.

As an increasing number of companies enter the international arena, and the electronic marketplace expands, recognition of the importance of securing trademark rights has risen. In this context, companies must be able to register marks and manage trademark portfolios in a timely and cost-effective way.

Advantages of the Madrid System

WIPO's international trademark registration System is an affordable, user-friendly and attractive option for companies seeking trademark protection in a large number of countries. The System has several advantages for trademark owners. By simply filing one application with WIPO (through one's national or regional trademark office), in one language (English, French or Spanish) and on payment of one set of fees, it is possible to obtain an international trademark registration. The System is a cost-saving alternative to filing multiple national applications in each of the countries in which protection is sought - a complex process involving several different languages, different national procedural rules and regulations as well as different (and often higher) fees and currencies. While the System is not a substitute for securing trademark rights in the country of origin, it facilitates the process of protecting national trademarks abroad, acting as a legal bridge between...