The Ministry of Commerce explained that the draft regulations aim to organize the procedures for reserving and registering trade names, enhance their value, and ensure their protection and rights related to them based on The Ministry of Commerce Ministry of Commerce explained that the draft regulation aims to organize the procedures for reserving and registering trade names, enhancing their value, and ensuring their protection and related rights based on the Trade Names Law.
The main provisions of the draft regulations include setting specific and clear controls for the reservation or registration of trade names by facilitating and organizing procedures to raise the level of compliance and services provided and enhancing technical linkage with government agencies.
The regulation also addresses the data that must be recorded when reserving a trade name, including the trade name and the name of the beneficiary of the reservation, as well as the controls of reserving or registering trade names in English, and regulating the process of reserving or registering family names as trade names by establishing specific controls for this.
In order to achieve protection and transparency of trade names, the regulation sets standards for the similarity of trade names aimed at preventing the registration of similar trade names that may lead to confusion or misinformation, thus ensuring the preservation of the rights associated with them and distinguishing them.
The project also included the establishment of a schedule for the reservation and registration of trade names in English. The project also included defining the schedule of classification of violations, taking into account their seriousness and impact in order to facilitate the business sector and enhance the compliance of commercial establishments with the regulations, in addition to determining the financial compensation for services related to trade names.
Ministry invited interested parties to participate in the process.
<The Ministry invited interested and concerned parties to participate and express their views on the draft executive regulations of the Trade Names System through the unified electronic platform for polling the public and government agencies “Polling Platform” via the electronic link:
https://istitlaa.ncc.gov.sa/ar/Trade/mci/Regulation
