Venezuela Trademark

General Information

In Venezuela, the Department is responsible for maintaining a public register of trademarks and trade names is the Autonomous Service of Intellectual Property (SAPI).

venezuela trademark

It should be taken into account that the application of a trademark will be limited to one class of goods or services as described in The Classification of Nice for trademark registration.

Intellectual Property laws in Venezuela are The Industrial Property Law of Venezuela's October 14, 1955, Law on the Promotion and Protection of Free Competition, Civil Code and the Penal Code, which guarantee protection to the companies and individuals wishing to protect trademarks and trade names in Venezuela.

The Certificate of Registration issued by the competent authorities after a trademark registration is granted in Venezuela, is valid only within the jurisdiction of the Republic of Venezuela

The registration of a mark in Venezuela is valid for a period of ten (10) years and may be renewed within 6 months before lapse and within grace period within 6 months following renewal due date.

WDA Provides the Following Services

1 - Application and obtaining registration of trademarks and trade names
2 – History of marks
3 –Opposition and cancellation resources
4 - Renewals and trademark registrations in general
5 - Amendments and modifications to records
6 – Patents, designs, utility models Trademarks Registrations In Venezuela

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Market Constraints

Financing is a major market constraint. New and smaller operators, in particular, struggle to obtain debt finance secured against the potential land value of self-storage use. Many banks will take a conservative view and be prepared to lend against only the latent—and usually lower—“alternative use” property value. Industry indicators show sourcing equity is relatively straightforward, but on the debt side, lenders need further education.

Although a rapidly growing industry, self-storage represents a small niche in wider property markets such as office, retail, industry and leisure property. The situation is aggravated by the virtual absence of leasing and sale of self-storage properties.

Data on trading information is scant in Europe. In the United Kingdom, the only public companies are Big Yellow and Lok’n Store. However, their published accounts show trading performance at merely the group level. This is in contrast to the United States, where trading data and information on property transactions is readily available. The data void has resulted in few property advisors with adequate experience to provide quality advice based on comparison data—a scenario unlikely to change soon.

Land Availability

Acquiring suitable property is the most significant hindrance to market growth. Self-storage operators—especially the larger ones—have been successful in broadcasting their property requirements to the real estate market. It’s now becoming recognized they can compete aggressively for development opportunities, especially against residential developers.

A recently marketed site in South London received more than 40 bids. Five of the top six bids were from self-storage operators; the majority of other bidders came from the residential sector. This is becoming a common theme for properties suitably located for storage. As a result, significantly more are being offered to the industry.

Land prices have increased dramatically over the last couple of years. Although self-storage operators are still buying sites that satisfy their criteria, including an adequate forecast return on investment, it’s becoming more difficult to buy sites at a significant discount to their potential worth. Hence, profits on development and conversion projects are falling from those previously achievable.

The Leasing Market

In view of the industry’s immaturity, it’s not surprising there is little information on the lease or trade of self-storage facilities, or indeed of their sale and leaseback. How much does it cost to lease existing premises for conversion to self-storage? There's no hard evidence that operators pay significantly above rental value in the wider property markets. In fact, demand and interest is much more focused on freehold property. Operators, aware of the capital investment required for conversion, will always try to keep rental costs to a minimum. In spite of these factors, there are numerous leasehold self-storage properties in Europe.

Capital Transactions

A particular feature of the European market is the scarcity of self-storage property trades. The market’s shallow nature is due to its small size and limited pool of vendors rather than any weakness of demand.

Venezuela Trademarks Registrations

There have been a number of corporate deals, including the purchase of Shurgard by Public Storage. However, it’s never easy to interpret these deals and strip out the relevant yields and capitalization rates reflected at property level; complicating factors are just too numerous.

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The lack of yield evidence presents a challenge for property consultants. I anticipate the situation will not change in the short-to-medium term. Nevertheless, with the few transactions that have occurred, plus some knowledge of the corporate activity discussed here, capitalization rates in the sector are clearly on a par with the rest of the property market. There has been a significant contraction in yields (i.e., improvement in value) over the last couple of years.

In addition, the differential in value between prime and secondary property has narrowed over the same period. In real terms, more is being paid for inherently riskier property. venezuela trademark

Property Valuations

The correct approach for storage property is to assess market value in terms of trading potential. The method is similar to that adopted for trading such properties as hotels and car parks.

Valuations should replicate the methodology of buyers and sellers in the market—and trading potential is the approach widely used by self-storage companies analyzing the viability of a potential project.

Opportunities

Aside from the business potential of self-storage, there are opportunities—perhaps limited to the larger players—for adding value through economies of scale. Other business strategies include financial structuring to reduce the cost of capital for sale and leaseback. Business can re-organize through Propco/Opco structuring, by setting up a subsidiary (a Propco) that holds the property Venezuela assets of the business, and leases them to another subsidiary (an Opco), which pays rent and operates the property. In the United Kingdom, REITS have been allowed since Jan. 1, 2007, providing a specific opportunity to enhance value for REIT investors through tax mitigation.

On the negative side, most countries with an established self-storage industry have yet to experience a severe economic or property-market downturn. It will be interesting to see how trading performance fares in a harsher climate.

The self-storage sector has a way to go before it fully comes of age. In the context of the wider property market, its lack of stock and property transactions means it remains a specialist sector. But, with the right property and funding, self-storage is a stable investment for investors of all stripes.

Venezuela Trademark

lunes, 25 de julio de 2011

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