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A trademark is a valuable asset that helps businesses establish their brand presence in the market and protect their commercial interests. However, trademark ownership does not last indefinitely and requires periodic renewal. So why is it essential for businesses to renew their trademarks in Vietnam? This article will analyze the key reasons and the potential risks of failing to comply with renewal regulations.
Key Reasons to Renew a Trademark
a) Maintain Trademark Ownership and Usage Rights
According to Vietnam’s Intellectual Property Law, a registered trademark is protected for 10 years and can be renewed multiple times, each for an additional 10 years. If a trademark is not renewed on time, it will expire, meaning the business will lose its exclusive rights to use the mark in the market.
b) Prevent Third Parties from Registering Similar Trademarks
If a trademark lapses due to non-renewal, any third party can register a similar or identical mark, which could severely impact the business’s brand and reputation. Reclaiming the trademark in such cases often requires significant time and legal expenses.
c) Protect Brand Value and Business Interests
A well-established trademark holds substantial value for a business. If the protection expires, the business may face unfair competition or lose control over its brand, resulting in financial losses and reputational damage.
d) Ensure Compliance with Legal Regulations
Failure to renew a trademark on time may lead to legal non-compliance and disrupt business operations. Adhering to trademark renewal regulations helps businesses avoid unnecessary legal risks.
Filing a trademark renewal application on time is a crucial step in safeguarding a company’s legal rights. To prevent mistakes or delays, businesses should proactively monitor renewal deadlines and consider engaging a reputable intellectual property representative. A professional representative can ensure a smooth renewal process while providing expert guidance to protect the trademark effectively.
If your business needs to renew a trademark in Vietnam, contact intellectual property experts today to ensure your brand rights are optimally protected.
ASL Law is a leading full-service and independent Vietnamese law firm made up of experienced and talented lawyers. ASL Law is ranked as the top tier Law Firm in Vietnam by Legal500, Asia Law, WTR, and Asia Business Law Journal. Based in both Hanoi and Ho Chi Minh City in Vietnam, the firm’s main purpose is to provide the most practical, efficient and lawful advice to its domestic and international clients. If we can be of assistance, please email to [email protected].
ASL LAW is the top-tier Vietnam law firm for Intellectual Property Services. If you need any advice, please contact us for further information or collaboration.
