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Saturday, 30 September 2017

The challenges in getting a trademark

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Getting a trademark can be challenging.

If you are starting a business, it's probably common to receive advice that you should register your trademark. Registering a trademark comes with benefits, such as proof of when you first registered it, and making it clear how you use the trademarks. Having a registered trademark is also an asset for your business as the trademark is seen as part of your company's intangible assets.

Some of the world's most valuable trademarks are shown above.

Trademarks also make it easier to challenge imitators and counterfeit producers. When a counterfeit item is detected in the market, the trademark owner can get a lawyer to demand that the counterfeiter stop selling and stop producing the counterfeit items. Subsequently, the counterfeiter can be sued in a court of law for damages, delivery up of sales, general damages, loss of profits, and the like. So, getting a trademark has its benefits for businesses, and businesses should not baulk at the upfront cost of applying for a trademark.

But there are challenges when applying for a trademark. Here are some of them.

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Friday, 29 September 2017

When Bitcoin is accepted by street vendors

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Street Vendors Get In On Bitcoin

The above photo became viral on the Malaysian social media networks recently. It shows a lady called "Jijah" who was selling food at her stall. If you look at the basket, it's probably some kind of nasi lemak, the usual fare for breakfast. The lady in the photo isn't that young, probably in her 40's at best. 

What this means is that even street vendors know that Bitcoin is rising in value. And they are trying to get in on it. Does it make sense for them? Absolutely. They are getting paid in Bitcoin and they don't have to deposit it into the local bank. The government won't be able to tell how much money they have made. Best of all it will appreciate in value.

But is it a bubble?

I remember when I was younger, a wise man gave me some sagely advice. He said, "When you get information from bankers and lawyers that nobody else knows about, it is highly sought after wisdom! Treasure it! But when you get information from taxi drivers and barbers that everybody else knows about, it is probably a bubble! Beware!"

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Sunday, 24 September 2017

Bitcoin, the inventorless invention

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If you haven't been hiding under a rock all this while, you've probably heard of Bitcoin by now. Since last year, its value has gone up 4 to 5 times.Last year around this time, Bitcoin was trading for about USD609. Today, its price is at USD3640. So if you had invested USD1000 last year, this time, you'd be able to get back about USD6000 today.

Around this time last year, one Bitcoin was sold at USD609. Today, it's at USD3,640.

Bitcoin is unique because governments are taking notice of it. It was the first cryptocurrency that really took off in a big way, although, truth be told, it wasn't the first. There were earlier attempts to make cryptocurrencies, many of which did not take off.

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