- The Protection of a Mark Is the Protection of an Asset of the Company
- July 30, 2012 | Authors: Claribel Medina; Jesús Humberto Medina Alva
- Law Firms: CENTRAL LAW Honduras- Medina, Rosenthal & Asociados - Tegucigalpa Office ; CENTRAL LAW Honduras- Medina, Rosenthal & Asociados - San Pedro Sula Office
“The protection of a mark is the protection of an asset of the company “
In Honduras the intellectual property law is based on international treaties and international agreements in which Honduras is a party.
The Industrial Property Law (Executive Decree 12-1999 of December 30, 1999) transcends the national legal framework, since it defines avant- garde concepts.
Through the applicable law on this matter the client obtains the protection for its mark and patents; distinctive signs (registered marks, service marks, slogans or publicity signs; collective marks; names of origin, among others). Also the protection against unfair competition that may cause a damage to a company.
Additionally, it provides mechanisms to stop and infraction to the legal system, allowing precautionary measures that may be applied immediately to prevent the damage.
In general, most of the national and international entrepeneurs, have understood the importance of protecting a mark and the development of the intellectual property of their business and they are ensuring it, sometimes with the set-up of their company.
However, some companies do not understand the meaning or scope of protecting a mark; they do not realize that is a cost-benefit analysis. Many times, because of ignoring the law or just because they do not want to invest on the trademark, companies are unprotected against other companies that have their marks already registered.
Regarding costs in the registry of a mark or protection of the industrial or intellectual property in a company, first it is important that the company defines the products to be protected and then must search legal advice from a firm with expertise on intellectual property law.
The firm will send the client the proposal of legal services including the costs and fees to be paid for the protection of the client´s assets. The costs for registering a mark in one class go from Lempiras 6,500.00 (equivalent to almost US$320) onwards. The price includes among others: expenses for the application of registry; publication; registry fees and certificate. This price is very similar to the prices required by other Registries in other jurisdictions in Central America. In respect to the legal fees they may vary from one country to other but discounts could apply depending of the volume of the marks to be registered.
The current intellectual property legislation in Honduras allows the protection of all the intellectual property assets of a company through a simple diligence that our Intellectual Property Department in CENTRAL LAW Honduras-Medina, Rosenthal & Asociados will be pleased to manage.