By Hande Tasan & Uğur Sağdıç, Yetkin Patent and Consultancy
Maybe you have come across the quote from Wealth Management authority Robert Kiyosaki, “IP is the biggest money-maker”. The IP assets mentioned here could be understood as intangibles such as IP rights, customer data, licenses, etc. With the experience of 27 years, we are here to explain to you what IP really means for start-ups and investors and share lifehacks you should know before filing a trademark application in Turkey.
Contents
Unlock the Power of Trademarks: The Key to Growing Start-ups
HACK #4: Watching & Monitoring Services
Unlock the Power of Trademarks: The Key to Growing Start-ups
It is currently observed that when trademark value is given enough attention from the beginning, the chances of getting funded and establishing partnerships tremendously increase despite the limited growth in tangibles. Actually, this can be called the new rules of wealth management.
Being the face of your company, trademarks hold significant financial value for businesses. But keep in mind that company value and trademark value are not always related. Every step you take toward your business goals, every investment you put in, and every single effort to widen your business is an act of growing a strong trademark. Your name or your logo, so your trademark, is the key while you need an asset working for you to magnetize customer attention. Only when you register and manage the ownership of the Trademark asset, growing your company equals an increase in the value of your trademark and vice versa.
While growing your company, you should know the parameters that investors evaluate the most. We would like to point out that the cost of acquiring new customers (profitability), recurring revenue, and total revenue are the most evaluated parameters by the investors, and trademark value directly affects these three factors. At the same time, these parameters are the most effective elements in the trademark valuation process. The same parameters affecting the Company Value would not contribute effectively to the Valuation of a Trademark that is not registered as an IP right and continuously watched-defended against similar registrations that can cancel out all the Trademark value. Therefore, investors invest in the trademark value, and like other properties of the company, the trademark requires constant control and maintenance to keep the value.
Once you have chosen a unique name, it is important to protect it before making significant investments. To ensure that your target audience can associate the designated name with your products or services, spread the influence of your business within your target audience with the chosen name, and create the value of your company under the chosen name, you must engage in promotional and marketing activities. And before engaging, you first need to safeguard and protect your name.
HACK #1: Preliminary Research
Trademark preliminary research is essential for IP-owners as it helps to determine the availability and registrability of a trademark in Turkey. Preliminary research can help avoid costly legal processes and disputes by ensuring that the chosen trademark does not overlap with any earlier trademarks or intellectual property rights. Preliminary research can also provide valuable insights into the market, competition, and any potential weaknesses in the trademark. By conducting thorough trademark preliminary research, IP-owners can ensure the uniqueness and protectability of their trademark and secure their investment for the long term. Read also about trademark registration in Turkey.
Establishing a strong and recognizable trademark identity, which is crucial for building customer loyalty and gaining a competitive advantage in the market, is possible with the help of preliminary research.
HACK #2: Provisional Refusals
TPTO (Turkish Patent & Trademark Office) can issue a provisional refusal for a trademark application according to IP Code no. 6769. It is highly recommended to seek guidance from a qualified IP agency in Turkey who specializes in trademark law. They can provide professional advice, assess the strength of your case, and guide you through the process. Based on the grounds for refusal outlined in the provisional refusal notice, your IP agency will help you prepare a detailed response to address each point. This response should provide legal arguments, evidence, and documentation supporting the registrability and distinctiveness of your trademark.
Throughout the process, it is crucial to maintain open communication with your IP agency, provide any requested information promptly, and follow the TPTO’s guidelines and deadlines. The expertise and knowledge of Turkish trademark law of your IP agency will be instrumental in navigating the process and maximizing your chances of overcoming the provisional refusal.
HACK#3: Oppositions
Everyone desires a smooth process of registration for their intellectual property, especially when it comes to the registration of their trademark in foreign countries. According to third parties, it is the other way around. Oppositions are filed within the scope of relative grounds indicated in Article 6 of IP Code No 6769 in Turkey. If the trademark application is published in an official trademark bulletin in Turkey, third parties can file oppositions against the trademark application. An application for trademark registration shall be partially or wholly rejected upon opposition if at least one of the relative grounds applies to the trademark sign.
When facing oppositions for trademarks in Turkey, it is important to take prompt and strategic action to protect your trademark rights. Seek guidance from an experienced IP agency in Turkey who specializes in trademark law. They will assess the opposition, analyze the strength of the opponent’s case, and provide advice on the best course of action. Based on the grounds of opposition, your IP agency will help you prepare a strong and persuasive response. This response should address each objection raised by the opponent, present legal arguments, and provide evidence or documentation supporting the registrability and distinctiveness of your trademark.
HACK #4: Watching & Monitoring Services
Trademarks play a crucial role in the business world, serving as valuable assets for companies and distinguishing their products or services from competitors. In an increasingly globalized and interconnected marketplace, where intellectual property rights are essential, the importance of trademark monitoring cannot be overstated. On the other hand, counterfeiting poses a significant threat to businesses across various industries, causing substantial financial losses and damaging trademark reputation. Trademark monitoring and watching services allow companies to detect counterfeit products or services in the market and take action against infringers. By actively monitoring trademarks, businesses can collaborate with IP agencies, conduct investigations, and implement strategies to combat counterfeiting.
Early detection helps minimize the negative impact on brand reputation and ensures consumer safety and satisfaction. Working closely with an IP agency in Turkey is crucial for guidance, review monitoring reports, assess the risks, and assistance in enforcing your trademark rights effectively. By implementing a comprehensive trademark monitoring strategy and collaborating with professionals, you can proactively protect your trademark rights in Turkey and promptly address any potential infringements.
HACK #5: Renewals
Renewal deadlines typically occur at regular intervals, such as every 10 years from the registration date or every 10 years from the last renewal. Consider utilizing the services of an IP agency that specializes in monitoring renewal deadlines and managing the renewal process. They can provide timely reminders and assist you in preparing and submitting renewal applications. They will guide you through the necessary steps, review renewal documents, and help you comply with all requirements.
By staying organized, setting reminders, seeking professional guidance, and proactively managing the renewal process, you can ensure that you meet the renewal deadlines for your trademarks in Turkey and maintain their protection.
Final thoughts
A trademark represents more than just a symbol or a name; it embodies your company’s qualified service or product, reputation, goodwill, and distinct identity of the company in the marketplace. Trademarks create the visual and verbal representation that customers associate with quality, reliability, and authenticity. A strong trademark builds your company’s recognition and consumer trust, resulting in customer loyalty and unforgettable interaction since the services or products you provide are the remedies for the customer’s troubles. Being the owner of a valuable trademark is not easy, but protecting and registering your trademark can be easy with the right formula.
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