The importance of the creation and registration of your trademark and trade name to achieve an entrepreneurial success.
By Atty. Alejandra Jaramillo Delgadillo
It is most important for every entrepreneur upon beginning his commercial activities, to first analyze What he wants to achieve as a company or economic entity, and How is he going to achieve it. Likewise, it is the duty of every merchant to distinguish from the competition not only by the quality of the services or products he offers but by the real creation of his corporate image and a trademark identifying and separating him from the other companies engaged in the same area, and in general a trademark being the most unique and original possible in order to achieve distinction from any other existing trademark.
Today’s entrepreneur must not only believe in the power of marketing, but most know that the power of marketing is based in the exaltation and existence of the trademark with its own identity, that backed up with its trade name jointly with the consumer’s mind, creates a seal of quality, trust, security, excellence, innovation or whatever is its guide or mission as a company.
You might be asking, but what actually is a Trademark or Trade name? Both are merely distinguishing marks composed of letters, words, images, numbers, designs, characters or a combination of all those elements or any other means that due to its characters is likely to in effect and without doubt or confusion identify a commercial product or service.
You might wonder now, But why is it necessary to protect my trade name or product or service mark of my company?
The answer is simple, your trademark and trade name is your identity in the market of services, products, and over the competition they are your finest form of advertisement and your reference letter for every investor or entrepreneur searching the services or products you offer.
A product or service mark and your trade name are intangible assets that attribute a considerable value to your company and that is an important tool of contact between the consumers and your company, as a means to promote the objectives and success of your entrepreneurial activity, not only in Panama but abroad, if you have plans to be a franchise or simply introduce your company worldwide.
Therefore, they must be protected and preserved by the registration of your Intellectual Property Rights before the General Directorate of the Industrial Property Registry (DIGERPI, in Spanish), in order to minimize and/or legally protect your company against an improper or illegal use by other merchants, that certainly want to imitate or appropriate the same market based on the previous efforts, success and sacrifices obtained by your company.