Trademark is a defensive and expansive strategy for businesses around the globe. With the advancement in the globalization and online presence of the marketplace, it is not possible to keep a record of information being made public on social media and the internet. The presence of new-generation entrepreneurs and competitiveness has resulted in a "who gets there first" mentality. Besides these factors, there are many other factors which have made it mandatory for businesses to protect their brand globally as well as enjoy the benefits of international expansion. International trademark registration is necessary from the view of an entrepreneur as not doing so would weaken the impact of your trademark causing business economic losses and loss to the goodwill as well. Another benefit of an international trademark is that it would facilitate licensing trademark right to other entities, which would help in franchise operations.
Need for International Trademark
Trademark rights are territorial and are granted separately in each country. It can protect your business in your country very well but not overseas. To overcome this problem and ensure your trademark is protected not just in your country but overseas as well, International Trademark is the solution. There is this example of a US-based Pinterest that lost its right to use its name or trademark in the country of Europe as a London-based Premium Interest Ltd. because it could not register its trademark timely. One can only imagine the loss the company had to incur because of failing to register the trademark timely.
Who Issues International Trademark Certification?
The World Intellectual Property Organisation, popularly known as WIPO provides International Trademarks to the applicants. It has an agreement signed by many countries and these member countries who have joined the Madrid Protocol can get trademark registration for any member country from a single application. WIPO is a self-funded agency of the United Nations and a global forum for IP services.