Register Your Company Name in Costa Rica
Protect your brand and ongoing commercial reputation by registering your company name in Costa Rica. This important step in creating a new business is essential for building a badge that will differentiate you from the competition in the market.
In recent years, Costa Rica has become more than just a tourist hotspot for holidaymakers – it has become an increasingly viable destination for business and investment. With a growing GDP and a government-enforced moratorium on bureaucratic regulations until May 2022, it has become easier for foreign businesses to navigate the initial phases of company formation in the country.
However, once settled and operational, it is crucial to protect your image and branding to maintain profitable commercial activities. The protections that the country offers ensure companies can do just that. Read on to learn more about how to register a company name in Costa Rica.
Trademark Your Brand in Costa Rica: Registering a Company Name
When establishing a new company in Costa Rica, entrepreneurs will register their business name. This name is unique and the first step towards developing a brand for their business. The company name is registered alongside an identification number granted by Costa Rican authorities for administrative and tax purposes. This registration prevents others from using the same name for their company and brand.
Commercial Use of a Company Name in Costa Rica
Protection of the company name does not cover its commercial use. Businesses must register their commercial name as an element of Industrial Property to ensure its protection under the country’s Intellectual Property laws. This registration protects the commercial name from use by others and prevents brand dilution and public confusion.
Company Name Registration Process
The registration of a commercial name in Costa Rica can be made within a period of no more than 6 months, and the protection begins from the moment the application is approved. The exclusive right to a commercial name can be acquired by its first use in commerce and does not require manual renewal. Once the application is submitted to the Registry, a form test will be carried out to check that all requirements are met.
After the examination of the form and substance of the name, it will be published 3 times in the official newspaper to raise awareness among third parties about the application. If no objection is received after 2 months, the commercial name is registered, and the IP protection request is granted.
If you’re unsure about what to include, seek local legal advice upfront to ensure a smooth registration process.
Additional Characteristics of the Company Name in Costa Rica
It is important to note that the commercial name has no expiration period and cannot be transferred to third parties unless it is sold in conjunction with the business. The owner of a commercial name may prevent the use of any identical or similar names that may affect their brand.
If you’re thinking of creating a new company in Costa Rica, it’s wise to get legal advice and assistance right from the beginning. Biz Latin Hub can help you protect and establish your company and its name by carrying out the required procedures with due diligence.
