This growth is not free from disputes, which occur when a company opposes the registration of a brand on behalf of another, and that can touch off a long judicial process.
One analysis in martesfinanciero.com highlights a few cases, which a lot of the times go beyond the borders of Panama, such as Speedo Holdings international, which presented a lawsuit, and won, against “Spido Joyeros.”
Competing with multinationals under DR-CAFTA requires companies to comply with all the necessary processes to protect their brands, processes and products.
The arrival of multinational companies in Central America competing in legal equality with local or regional firms as a result of DR-CAFTA, highlights gaps in legal implementation and best practices for business on issues such as the protection of trademarks and intellectual property. In an analysis piece by Nacion.com, the need for companies and entrepreneurs to protect the product development process, their formulation and their brands is highlighted.
Lego International has won a lawsuit against Lego PZ Multiservicios S.A. of Costa Rica for the misuse of the toymaker's brand name.
Lego International won the lawsuit filed against the corporation Multiservicios Lego PZ Costa Rica for the unauthorized use in its company name, of the trademarked name Lego. The Register of Legal Entities at the National Registry ordered the administrative detention of the corporation.
Globalization increases the need to protect the brand names of products which have become an increasingly valuable asset allowing effective communication with customers.
"One of the characteristics of brand names is to be something distinctive, a vehicle of communication between the seller and the consumer, which can become a very valuable asset," says Bernal Molina, from the Industrial Property Department at the National Registry Office.
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