In light of Bangladesh’s obvious economic improvement, business growth at the individual and collective levels has improved as per capita income has increased. And the primary engine of this business growth is the branding or marketing of one’s products. Branding one’s company product is the primary regulator of business strategy, and trademark registration following the necessary legal procedures preserves the product’s or firm’s goodwill or reputation.
Today, 52 years after independence, the country has not been able to express its place in the competitive business world commerce with its distinctive or well-known brand, except for a few natural agricultural goods or a small number of commercial items. However, the word of optimism is that in the current government’s age of digitization, we may file as soon as possible by providing the prescribed fees online and filling out the form in the prescribed manner. By agreement between the Ministry of Industries’ Department of Patents, Designs, and Trademarks (DPDT), the International Finance Corporation (IFC), and the World Intellectual Property Organization (WIPO), all old and current trademark files have been brought under data capture under IPAS (Intellectual Property Automation System) software, so we can complete the trademark search in a very short time and be certain about the status of pending or registered trademarks. When a product is offered in huge amounts in the market and is of high quality, the market demand for that product rises. Then the product’s trade name or brand name becomes known as the Trademark of that product, and the consumer is encouraged to adopt it. This is referred to as IP value. Later, it is discovered that consumers recognize that specific product by the name of the Trademark. When this well-known Trademark is sold in big numbers on the market, the government gains as much as the firm or product’s owner. Then, to keep that IP value as one’s asset and for business development and marketing, trademark registration is essential.
The first trademark office opened in newly independent Bangladesh in 1972. In 2004, the DPDT was established by combining the Patent, Design Office, and Trademark Registry under the Ministry of Industries. The department’s operations are currently divided into six separate wings. As a result, the pace of trademark filing has skyrocketed compared to past years. In a similar vein, the “Trademarks Act, 2009,” which repealed the English version of the Bangladesh Trade Marks Act, 1940, was published in the Government Gazette on March 24, 2009, and the Trademarks Rules 2015, which replaced the Trademarks Rules, 1963, on September 20, 2015.
WIPO member nations proclaimed April 26 (the day WIPO was formally established) World Intellectual Property Day in 2000. Since 2001, the World Intellectual Property Organization (WIPO) has celebrated World Intellectual Property Day in different nations with varied themes. Every year, the day is honored spontaneously in Bangladesh with the support of the government and the DPDT via various programmes. Its significance is growing in Bangladesh and throughout the world. Bangladesh, as every year, marked the day in 2022 with the subject “IP and Youth Innovation for a Better Future.”
The primary role of a firm’s Trademark on its goods is to distinguish the company’s distinctive product from other similar items on the market. Distinct firms may have different items of the same sort, but if a product or service has a registered trademark, the buyer is more likely to purchase it. Just as trademark registration protects the interests of the product’s maker, the quality of the goods, or the interests of the services and features, trademark law prohibits the use of deceptive symbols, which protects the general interest of the consumer. Consumers and customers are becoming more aware of trademarks and trade names. We have recently seen people purchase certain specific items at greater costs based on trademarks and product quality. It is clear from this that a registered trademark is extremely valuable in business.
Because of the lack of adequate development of our manufactured industries, intellectual property, and associated regulations have yet to influence our lives substantially. However, because of the current government’s multilateral efforts, help desks have been established at DPDT, and online filing activities have begun for the convenience of trademark service receivers. As a result, the entire public is now aware of intellectual property registration.
We are still far behind in applying laws prohibiting intellectual property registration and infringement of intellectual property rights. Furthermore, the most frustrating aspect is our lack of awareness. Except for a very limited number of individual traders or industrialists, most traders are unaware of these intellectual property assets. Moreover, they are unaware that these trademarks are the primary regulators of the business’s originality and development. Therefore, the government should arrange additional meetings, seminars, and symposiums at the organizational level to raise awareness of intellectual property law among entrepreneurs.