Since 1948, Panama has been one of the major centers for financial business in the world. This is largely thanks to the country’s geographical location and the Colon Free Trade Zone, which is the largest free port in the Americas. Along with its financial advantages, Panama has become a strategic place for businesses to register trademarks. Registering a trademark is important for businesses and doing it in Panama comes with some advantages.
Benefits of Registering a Trademark
- Protection from Counterfeits. There is no way to completely stop people from copying your business, products, or services, but if you have a registered Panama trademark, you can stop others from legally copying your branding. If anyone does try to use your logo or slogan, your company will have the legal standing in a court of law.
- Brand Awareness. A concern for businesses that do not trademark their logos and slogans is someone else can trademark those things, even if you were using them first. Many don’t know this is an issue until they get a letter asking for money to buy the rights. Others don’t know until they go to expand their business or legalize their branding down the road. When you find the right branding for your company, it can make all the difference. Building up brand awareness takes time and you want to protect the parts of your business that make it unique.
- Avoiding Costly Changes. Another aspect of branding is establishing a reputation or identity. If another company or person trademarks your company name, slogan, or logo before you do, your company will likely have to change. Imagine needing to change every marketing strategy, promotional piece, and paper with that information on it. Not only is it time consuming and frustrating but can also be very expensive. The best way to save yourself this headache is by trademarking early in the business formation.
Advantages of Choosing Panama
- It is Fast. The time between filing the paperwork for Panama trademark registration is usually six months or less. It is protected retroactively, so once you start the process, you have some form of protection. An attorney can usually let you know much faster if there are obvious problems to your trademark request, like someone already having trademarks on the same material.
- No Need to Live in Panama. The trademarked word(s) or design(s) can be done through email, not requiring your physical presence to complete.
- Everything is Transparent. The process of trademarking is straight forward and streamlined. Regardless of where you live, the trademarks are granted for 5-10 years and can be renewed easily.
Experience You Can Trust
The process for registering a trademark can seem intimidating, but the process is streamlined to make it easier. The lawyers at Mata & Pitti have been doing trademark registration for many years and know the process well. We treat your trademark information with discretion, so you can feel more confident that no one will beat you to legal ownership. If you want a team to walk you through the process or explain it more in depth, we can help. Our team is one you can trust to get it done correctly in a timely manner, so you don’t have to worry about it. Ready to get started? Contact us today.