If I bid on a company's commonly used phrase, and Google lets me, is it O.K.?

Just as it said, If I start a campaign using a known word, but not necessarily protected, and Google lets me have it...am I good to go , or was it just an oversight, and I should work the hell out of it, until they catch up?

 

If it's not protected by the company (i.e., if the company permits trademark bidding), you're good to go.

 

Excellent
That's what I thought, just wanted some clarification instead of going off on a tangent .