IP registration by foreign firms on the rise

The registration of intellectual property rights by foreign companies is increasing significantly as they think Bangladesh is a potential destination for business.
IP registration is a must for the companies to protect their trademarks, logos, patent rights and industrial designs against any piracy.
The Department of Patents, Designs and Trademarks (DPDT) issued 1,761 trademark registrations to the foreign companies in 2012, up 75.74 percent from the previous year.
The trademark registration of foreign companies gained momentum in the country amid growing concerns over losing brand rights in the local market.
IP right is one of the most valuable assets in commercial transactions as it provides an exclusive ownership to any goods and services, said Md Yadnan Rafique Rossy, an advocate of Amir & Amir Law Associate.
“It would be very difficult to regain the IP right if a company lost the rights due to an absence of registration,” he said.
Foreign companies are becoming more conscious of IP rights as it will help them get legal protection in the local market, he said.
A company has to get registered from the local IP administrator for protecting their trademarks, logos, patent rights and industrial designs against any piracy, according to the TRIPS agreement.
Trademarks can be registered in 45 classes including ten service categories, said Md Abdur Rouf, registrar of the DPDT, an agency under the industries ministry.
Most foreign companies seek trademark registration for those products and services that have good prospective markets in Bangladesh, he said.
The filing of trademarks registrations by foreign companies increased 4.05 percent to 3,135 in 2012, according to DPDT data.
“It is a good sign for Bangladesh,” said Syed Ershad Ahmed, president of the Foreign Investors Chamber of Commerce and Industry.
The registration of patents and industrial designs by foreign companies also increased significantly last year.
In 2012, the DPDT issued 139 patent rights certificates to foreign companies, up from 79 in 2011, while it issued 156 industrial designs, up from 31 in 2011.
The DPDT registrar said they strictly follow rules and regulations to issues any patents, designs and trademarks certificate to the clients.
It takes around 14 months to complete the entire process of trademarks registrations, said Rouf. “But it will come down to three to six months once the department is automated.”

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