The purpose of this study is to examine the basis of a judge's considerations and the form of legal protection related to the cancellation of the Nacepim trademark registration, as stated in Supreme Court Decision Number 639 K/Pdt.Sus-HKI/2020. The first-to-file system in Indonesia still leaves room for injustice for business actors who have used a trademark in practice but did not immediately apply for registration, thus requiring a reassessment of the trademark registration mechanism. The urgency of this research arises from the need to balance legal certainty and substantive justice for bona fide early users. The method used is normative legal research through a case study and legislation approach. The findings show that although the judge's considerations in the Nacepim case followed the provisions of the Trademark Law, the absolute application of first to file still has weaknesses, including the risk of trademark squatting and a lack of protection for first users. This study concludes that there is a need for a registration model that combines the first-to-file principle with the first-to-use element, accompanied by stricter substantive examinations and both preventive and repressive protection mechanisms by the DJKI. The novelty of this study lies in the proposed hybrid model and the analysis of the latest ruling that strengthens the position of early users in facing bad-faith registrations. Tujuan penelitian ini mengkaji dasar pertimbangan hakim serta bentuk perlindungan hukum terkait pembatalan pendaftaran merek Nacepim sebagaimana tercantum dalam Putusan Mahkamah Agung Nomor 639 K/Pdt.Sus-HKI/2020. Sistem first to file di Indonesia masih menyisakan ruang ketidakadilan bagi pelaku usaha yang telah lebih dahulu memakai merek secara nyata, tetapi tidak segera mengajukan pendaftaran, sehingga diperlukan penilaian ulang terhadap mekanisme pendaftaran merek. Urgensi penelitian ini muncul dari kebutuhan menyeimbangkan antara kepastian hukum dan keadilan substantif bagi pengguna awal yang beriktikad baik. Metode yang digunakan adalah penelitian hukum normatif melalui pendekatan kasus dan peraturan perundang-undangan. Temuan penelitian menunjukkan bahwa walaupun pertimbangan hakim dalam perkara Nacepim telah mengikuti ketentuan UU Merek, penerapan first to file secara absolut tetap menyimpan kelemahan, termasuk risiko trademark squatting dan kurangnya perlindungan bagi pemakai pertama. Penelitian ini menyimpulkan perlunya model pendaftaran yang menggabungkan prinsip first to file dengan unsur first to use, disertai pemeriksaan substantif yang lebih ketat dan mekanisme perlindungan baik preventif maupun represif oleh DJKI. Kebaruan penelitian ini terletak pada tawaran model hibrida tersebut serta analisis putusan terbaru yang memperkuat posisi pengguna awal dalam menghadapi pendaftaran beriktikad buruk.