Non-resident companies occupied nearly 72 per cent of all registered trademarks in Bangladesh, almost sweeping the board clean, official statistics show.
People familiar with the developments told the FE that this occurred mainly because of a lack of awareness among the local entrepreneurs about such "important intangible assets".
According to statistics prepared by the Department of Patents, Designs and Trademarks, it has so far issued certificates of trademark registration for 49,061, some 35,051 of those taken by non-resident firms.
The public entity provides two types of certificates, one for residents and another for non-residents -- the firms and the applicants stationed abroad but having business interests in Bangladesh.
They may be either Bangladeshi or foreigners but their applications were processed from abroad.
Md. Sanowar Hossain, Registrar at the Department of Patents, Designs & Trademarks, said the non-residents are very much aware of this asset and they take its advantages while marketing their products and services in Bangladesh.
"Here in Bangladesh entrepreneurs start their business by taking a trade licence from the city corporations and usually do not think of such type of assets," he told the FE.
Mr Hossain, also an additional secretary, said this is also an effective marketing tool as customers can distinguish the products and services through the trademarks.
He lamented that Bangladesh should have at least 4.0 million registered trademarks considering the number of businesses in the country.
The official, however, said they are preparing a policy as to how to create awareness among the entrepreneurs on the matter.
"We're also thinking about incorporating it into national curriculum and textbooks."
He also said trademark is not mandatory in Bangladesh as elsewhere.
However, the government enacted a law styled 'The Trademarks Act 2009' to facilitate services to the companies in doing business.
Under the Act, the department is the custodian of trademarks.
People at the trademarks wing of the department said business firms can even start up their business by applying for the trademarks as it needs at least three years to complete.
They said the trademarks must be unique in nature and geological location is not accepted.
There are very minimum searching fees and other charges for trademarks. Renewal fees having longer durations also are minimal, they said.
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