Question Summary:
Please inform me whether registering a company name is permissible. Once registered ,nobody has the right to use this name except myself. Also,what is the ruling regarding registering a product name under my name? After this,nobody can name their product with this name except myself.

Question Detail:

Please inform me whether registering a company name is permissible. Once registered ,nobody has the right to use this name except myself. Also,what is the ruling regarding registering a product name under my name? After this,nobody can name their product with this name except myself.

Answer :

In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatoh
Registering a company name or a product name, also known as registered trademark, is considered to be an IP (intellectual property) and is legally treated as a tangible commodity.
Scholars differ as to whether IP can or cannot be recognized with the same conditions as a tangible commodity. Those that say it is not permissible argue that the concept of ownership is restricted to tangible objects only and that IP leads to a monopoly. Scholars who regard IP as acceptable in Shari’ah say that there is nothing in the Quran or Sunnah which restricts ownership to tangible objects only and that IP will not lead to a monopoly since it still does not prevent another person from inventing something similar to the trademarked product, but with a different name. Also, a person who trademarked a certain name for his company or his product and worked hard to promote them with both his physical and mental labor should certainly be entitled to the commercial benefits.
We are inclined to IP being permissible.
(Contemporary Fatawa, P. 188-192, Idara-e-Islamiat)
(Fiqhi Maqalaat, 1/220-224, Meman Islamic Publishers)
And Allah knows best
Wassalam u Alaikum
Ml. Asif Umar,
Student Darul Iftaa
Checked and Approved by:
Mufti Ebrahim Desai
Darul Iftaa, Madrassah In'aamiyyah