|Weekly News Digest
July 30, 2013 — In addition to this week's NewsBreak(s), the editors have compiled the Weekly News Digest, featuring stories from the week just past that you should know about. Watch for additional coverage to appear in the next print issue of Information Today.
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Thomson Reuters CompuMark Promotes Trademark Best Practices in China
Thomson Reuters CompuMark, a Thomson Reuters Intellectual Property & Science business that protects worldwide brands, released a white paper, “Best Practices for Brand Expansion in China: How to Navigate a Unique Intellectual Property Landscape,” that discusses best practices for trademark protection in China and outlines strategies for brand protection.
Brand owners worldwide depend on China’s more than 1.3 billion consumers, but to gain a share of that market companies must adhere to the country’s intellectual property rules. Thomson Reuters CompuMark’s set of best practices helps companies navigate trademark filing and maintenance and deter counterfeiters and trademark squatters, competitors who file a company’s trademark in a country where it does not yet have a presence.
The report cautions that China files the most trademarks in the world, making it a competitive market. From 2006 to 2012, companies published more than 5 million trademarks in China, with 924,414 published in 2012. Companies should file early to avoid the Chinese trademark office’s decreased processing times and beat the first-to-file system so that the first company to file a trademark is not necessarily the first to obtain it.
China has a single-class filing system, so companies should protect their brands in both active and inactive sectors, which deters trademark squatters. The report also suggests investing in anti-counterfeiting measures such as systematically confronting each individual infringer.
“With trademark activity by both domestic and foreign entities on the rise and given the country’s overall effort to encourage the effective management of intellectual property assets, China is asserting itself as a serious player in the world and intellectual property economy,” according to Viji Krishnan, general manager and vice president of Thomson Reuters CompuMark. “While there is no perfect solution for protecting multinational trademarks in China, with the right cultural know-how and shrewd navigation of a complicated regulatory framework, brand owners are in the best position in years to build a strong consumer base in the country.”
Source: Thomson Reuters
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