How the Registration of Word Mark in China Provides Broader Rights

A word mark, or logotype is usually a distinct text-only typographic treatment of the name of a company, institution, or product name used for purposes of identification and branding. The number one difference between logos and wordmarks is that wordmarks are text-based logos. The most famous are FedEx, Coca-Cola and even world-famous IBM. These are all examples of highly successful and easily recognizable wordmarks that are easily identified with around the world.

Trademarks in China can be registered in different forms namely word mark, label, logo and device mark. A “word mark” is considered the strongest form of trademark protection you can obtain. Applications for word mark registration in China must include a Standard Character Claim: The mark consists of standard characters without claim to any particular font, style, size or color. In addition to words and logos, three-dimensional signs, color combinations and sounds (including musical jingles) may also be registered as trademarks; namely, non-traditional marks.

Word Mark Registration in China

China permits the filing of a wide range of marks, including sounds, 3D marks and color combinations. But the vast majority of applications are either word marks, logos or a combination of both. In China, it is generally preferable to register all word marks separately from logos, as this will ensure a wider scope of protection for each element. There are many pitfalls you need to avoid when registering a word mark, it’s also important that you know about the process when registering one.

Trademark Classification Framework of China

>> If a trademark comprises English letters or Chinese characters, it is treated as a word mark and will be compared with other prior word marks to determine whether similar prior trademarks exist.

>> If a trademark is a device mark, it will be compared with prior device marks in accordance with the International Classification of the Figurative Elements of Marks (the Vienna Classification).

>> For composite trademarks that combine both word and figurative elements, the mark’s word and device elements will be examined separately.

Trademarks protect your business name, product names, Domain names, logos and slogans. The decision to Trademark is likely one of the most important business decisions you will make. In the view of the prominent China trademark lawyers, when faced with an issue registering a word mark, a design mark can be a viable option to at least secure the logo or other valuable aspects of the mark.

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Numerous Ways to Transfer Money Out of China Legally

Foreign enterprises doing business in China have figure out the ways to transfer payments into and out of the country. Getting money into China is not a big problem. China doesn’t levy an inheritance or gift tax on cash sent into the country, which means your recipient won’t have to worry about filling out any extra forms come tax time, no matter how much you’re transferring in. If you’re transferring money for a purchase, they’ll report it just like they would any other business income.

The complexities arrive at the time of getting money out of China. If you wish to transfer money out of China or if you are outside of China and are expecting payment for services rendered, be sure that you are aware of the process and any limitations that apply. Chinese officials are scrambling to keep money in its borders, and intensifying efforts to keep money from leaving the country.

Companies that want to repatriate their capital outside of China can do it using various ways such as

 

>> Getting money out of China Via Hong Kong

>> Getting money out of China via Western Union

>> Getting money out of China via Chinese Bank

>> Sending money out of China via Bitcoin

>> Sending money out of China via PayPal

>> Sending money out via investing

>> Property as a vehicle for getting money out of China

 

 

According to the South China Morning Post “ Analysts said that despite tighter scrutiny, the outflows were likely to remain strong for years to come, with companies and individuals looking for better investment opportunities while safeguarding their money against a weakening Chinese economy and a falling yuan currency.”

Every country around the world has measures to curb money laundering and tax evasion. In order to bring this money into China, whether wired, transferred or in cash, anything over 10,000 RMB will be monitored. Traditionally the US Dollar has been used as the currency of choice for the export industry in China, and suppliers will often invoice in USD. It depends how much you are trying to transfer out of the country. Chinese citizens are allowed to exchange 50k USD per year. You could get a friend to help you exchange and wire your money out.

The Chinese government often changes money transferring policies from day to day and from bank to bank. So it becomes really important to seek advice with your China lawyer and Chinese bank to make sure you have maintained all the regulatory compliances for transferring or sending money out of mainland China.

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