check it out I made a post on my blog about it http://www.cpa-affiliates.com/microsoft-adcenter-takes-a-stance-on-trademark-terms-and-bidding/ Quick Brief
I think it makes it more like the real world.... As online is just like Real estate. there is no reason there can't a Big Billboard or an actual Target store right next to the walmart. I think it ads competition... While Again i think Utilizing Trademark names in your ads without permission is a different story. but in general NOT being able to bid on a TM name is utterly GARBAGE!
The policy is more similar to Yahoo than Google. For example, it seems like resellers, affiliates, and magazine agents will be able to use trademarks. However, competitors will still not be allowed to use trademarks. & advertisers can send complaints re:competitors to MSN.
Sorry to dig this up after more than a week (forgot about this). In the United States, anybody can advertise on ANY keyword. Google does not employ TM protection on keywords, and this can be verified by speaking with their trademark team. I've done work on the affiliate side with using advertisers trademarks & I've worked with advertiser's own PPC campaigns where they hold trademarks, so I've had plenty of firsthand experience w/the TM policies on Google.
Yep, and it's also stated on Google's TM Complaint form: "Trademark rights in the US/Canada: we are concerned with the use of our trademarks in ad text. NOTE: We do not investigate for keyword use in the US and Canada." https://services.google.com/inquiry/aw_tmcomplaint