After the ten years of organising the "Trademark of the Year" competition, the Latvian Patent Office (LPO) has decided to change its procedure by selecting the candidates in two stages, the first of which will be taking place throughout the year.
The establishment of the "Visionary" award in 2023 was followed by a decision to introduce the "Intellectual Property Award" that will cover both the “Visionary” and the “Trademark of the Year” awards.
The competition was founded in 2013 to honour Latvian entrepreneurs that are aware of the benefits of industrial property (IP) protection for increasing the long-term competitiveness and productivity of their companies, and to promote the development of local businesses. Once a year, the award was given in two nominations: "Trademark of the Year - for Latvia" and "Trademark of the Year - for the World". Trademarks were applied for the competition by the trademark owners or their representatives, and the winners were determined based on the results of public voting and the jury’s ranking.
"In 2023, we celebrated the tenth anniversary of the competition, which is an important number. During these years, we have awarded quite a few companies that see the advantages of IP protection as the key to the success of their commercial activities. For the ten years, the competition has gained strength, and now we have to think about its refreshment. So, we have decided on its new concept," explains LPO Director Agris Batalauskis.
From now on, the award process will be organized in two stages. First, once a quarter, experienced LPO experts will select four trademarks in the nomination "Trademark of the Year - for Latvia" and four trademarks - in the nomination "Trademark of the Year - for the European Union" which will further be forwarded for the second evaluation stage. The winners of the main award in both nominations will be determined among 16 trademarks registered at the LPO and 16 trademarks registered at the European Union Intellectual Property Office.
At the beginning of 2025, the trademarks will be evaluated by the jury which will determine the winners of the main prize in both nominations - "Trademark of the Year - for Latvia" and "Trademark of the Year - for the European Union". The jury will include experienced LPO experts and cooperation partners. The nominees for the "Trademark of the Year" award selected in the first quarter of this year are expected to be announced in the second half of April. They will be ensured with publicity by getting the opportunity to tell the story of their trademark creation.