Nice Classification: A guide to Choosing Trademark Classes for Financial Services

Conducting trademark registration in the UAE is inevitable for financial services brands as the region is witnessing a boom at present. Access to financial services is a key requirement for both individuals and businesses, which explains the demand for the industry. As more and more players enter the industry, especially after the Fintech and blockchain revolution, the need for robust brand protection strategies has emerged.

Even though trademark registration is the best brand protection method for financial services, the process involves many requirements that must be navigated with expert professionals such as trademark agents in the UAE. Filing your trademark under the right classes as per the Nice Classification List is such a critical requirement that has a decisive role in the fate of your trademark application. The following blog discusses the Primary Class and the Coordinated Classes relevant to financial services brands:

Class 36 is the Primary Class for Financial Services

Financial Services brands must choose Trademark class 36 as their Primary Class while registering a trademark in the UAE. It is a service class that mainly represents services rendered in financial and monetary affairs and services rendered in relation to insurance contracts of all kinds. The services listed in Class 36 related to financial or monetary affairs include the following:

• Services of all the banking establishments, or institutions connected with them such as exchange brokers or clearing services;
• Services of credit institutions other than banks such as cooperative credit associations, individual financial companies, lenders, etc.;
• Services of “investment trusts,” of holding companies;
• Services of brokers dealing in shares and property;
• Services connected with monetary affairs vouched for by trustees;
• Services rendered in connection with the issue of travellers’ cheques and letters of credit;

What are the Coordinated Classes for Financial Services Brands?

After selecting Class 36 as the Primary Class, a financial service brand should search for the coordinated classes that are relevant to its proposed trademark. Coordinated Classes crossover within the Nice Classification List categories as they relate to one another. Coordinated Classes must be selected as most businesses diversify their activities to increase their market share.

The trademark class you select must also reflect your activity in the associated industries so that you can ensure protection for your brand name. Trademark agents in the UAE also use the coordinated classes during a comprehensive trademark search to find conflicts before submitting your application to the Ministry of Economy. Some of the coordinated Classes for Financial Services include:

• Class 35 – advertising and business services
• Class 38 – telecommunication services
• Class 41 – education and entertainment services
• Class 45 – legal and security services

How to Choose Right Class for your Brand?

You need to bear in mind two things related to class selection while conducting trademark registration in the UAE. First of all, you must not choose the wrong class as it would not help someone to identify the source of origin of your trademark. Secondly, you must not choose too few classes while registering a trademark in the UAE.

Selecting only a few classes will put you at risk of your protection scope being too low. It is not possible to add new trademark classes later and therefore you must select all the relevant classes in the first instance. Trademark agents in the UAE can help you with choosing the right classes for your financial services trademark.

How can a Class 36 Trademark Protect my Intellectual Property?

While registering a trademark in the UAE, you need to select a Primary Class and Coordinated Classes for your proposed mark. This is important for you as trademarks protect brands from infringement within the same class. For example, WHIZMA is a famous financial services brand in the UAE and a brand name similar to WHIZMA will constitute infringement only if both are filed within the same trademark class (Class 36).

If a similar or identical brand name is filed within Class 36, you can file an objection against such a trademark application. You can rightfully argue that such a trademark will create brand confusion among your consumers. Consult with trademark agents in the UAE for a better understanding of trademark classes under the Nice Classification.

Hire the Best Trademark Agents in the UAE for your Financial Service Brand

Trademark classes are one of the most critical aspects of trademark registration in the UAE. Since trademark classes determine the degree of protection of your valued trademark, you must hire the best trademark agents in the UAE to avoid any potential error. When it comes to trademark services in Dubai, look no further than Jitendra Intellectual Property (JIP). We are one of the top IP firms in Dubai with years of experience. JIP offers top-notch trademark protection services in Dubai such as trademark registration/renewal, trademark watch, trademark search etc. We also provide worldwide trademark registration under the Madrid Protocol.