However, the National Electric Vehicle Sweden, who took over the manufacturing of Saab vehicles in 2012 have decided to throw in the towel over the battle for the Saab trademark and instead have chosen to trademark their vehicles ‘NEVS’.
When Saab Automobiles went bankrupt in 2012, they sold everything to the Swedish company except their most valuable asset, their trademark portfolio. After unsuccessful attempts to attain the trademarks and the retraction of their rights to use it from Saab due their failure to launch the new Saab 9-3 in 2014, the National Electric Vehicle Sweden decided to launch their own brand ‘NEVS’.
Regarding this recent decision, the NEVS President declared “With sincere respect to our history and heritage, we want to be recognized as ourselves – A sustainable mobility solutions provider who are committed to the environment with a focused growth plan with its own brand as a corner stone".
NEVS plans to focus on manufacturing electric vehicles, with 2017 being the year in which its first model is predicted to enter the marketplace.
The company has been financially backed by Chinese capital since acquiring Saab assets in 2012 and is looking to initially establish a solid grounding in the chinese market before taking on the global market. According to Carscoops.com NEVS has already signed a contract with Chinese manufacturer Panda New Energy to produce up to 250,000 electric vehicles.
When acquiring an existing company’s assets, your business should be sure to gain possession of the relevant trademarks as soon as possible since they will protect your brand and allow you to enforce your trademark rights over other companies that may infringe upon your mark. However, if you continue to use the brand name without owning the trademark for it, you are putting both your company’s reputation and revenue at risk as you will effectively be operating as a licensee but without a licensee’s contractual rights. The company that does own the trademark could step in at any time and accuse you of trademark infringement unless you have a written agreement. In this case, NEVS has made the logical decision to rebrand in order to protect their property.
For advice and more information on searching, acquiring, registering and enforcing Trademarks please visit our website, http://www.lipex.com.
Our unique database of trademarks for sale or license could save you time and help protect your brand.
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