The Decision addresses the ever existing conflicts between trademarks and trade names in the country, which is a continuous weakness in the protection system since the two databases are never cross checked on trademark or trade name clearances and hence result in conflicts.
The electronic database of a registry may include all the aforesaid details in addition to a Query Service regarding availability of a trade name or possibility to book it for a period not exceeding three (3) months in accordance with the conditions for which a resolution shall be issued from the Minister.
It remains to be seen whether the courts will agree with the IRS's position (particularly with respect to its position that trademarks and trade names are part of the goodwill of a company rather than separable intangible assets).
As part of this transaction, DHLI agreed to purchase the DHL trade name for $20 million, DHL reserved the right to use its own name for 15 years on a royalty-free basis, and, after 15 years, DHL agreed to pay a royalty of 0.
Dubai: The Dubai Department of Economic Development (DED) and Dubai Silicon Oasis Authority (DSOA) have signed an agreement to unify registration procedures for trade names to avoid duplication across the emirate.
The increase in the company's presence in the foreign jurisdiction will likely trigger an increase in the value of the trade name in the foreign market and the heightened possibility that the IRS will argue that a transfer of the trade name has occurred.