Why Registering a Trademark is Important for Your Business Back to Basics
It is important to establish that a company is made up of both tangible and intangible elements. Tangible assets include movable and immovable property, and many people believe these are the only defining features of a business. However, intangible assets also play a fundamental role — these are those elements that cannot be physically touched, such as the trademark, trade name, and others.
Whether your business is a startup or an already consolidated company, we share a common reality: most of the time, the main focus is financial growth. And certainly, as the business grows, the product or service will be identified by a “name,” which is the TRADEMARK.
In general terms, a trademark identifies a product or service and distinguishes it from other similar ones in the market. However, this protection is not acquired simply by using it; to enjoy exclusive rights and avoid others from using the same name for similar products or services, it is essential to register the mark with the Intellectual Property Registry.
The Trademark as a Strategic Pillar of Industrial Property
In Honduras, everything related to trademark registration is governed by the Industrial Property Law, issued by Legislative Decree No. 12-99-E. This law sets out the rules concerning creations that arise from intellectual efforts. In addition to trademarks, it also allows protection of:
-
The trade name of your company, by which the public recognizes you.
-
The emblem, or the sign/design used to identify your company.
-
The slogan, also known as an advertising expression or motto.
According to Article 82 of the Industrial Property Law, trademarks may consist of fantasy names, pseudonyms, trade slogans, figures, portraits, letters, numbers, monograms, labels, coats of arms, prints, vignettes, borders, lines, bands, combinations, and color arrangements, among others.
While registration grants you exclusive rights, it is equally important to actively use the mark to maintain its protection. Legal protection also allows action against third parties attempting to commercialize unauthorized copies, imitations, or improper uses of the trademark.
What Does “Use of the Trademark” Mean?
Article 96, section 6 of the Industrial Property Law lists the acts that constitute trademark use, including:
-
Selling, offering for sale, or distributing products or services under a registered trademark.
-
Use in advertising, through any mass communication medium.
How Lexincorp can help
At Lexincorp, we are ready to advise and assist you throughout the process of protecting your intellectual property rights, specifically those intangible assets that add greater value to your company.
📩 Contact us at: cflores@lexincorp.com / infohn@lexincorp.com
Written by: Attorney and Notary Carlos Flores Alfaro
