If you discover that another company has a pending application or has a registered trademark, and the other party shares common business products/services with you, they have priority over the mark, so you probably need to find another trademark to register.
In countries where 'common law' applies (Like the U.S.), their use of the mark before your trademark filing also gives them a claim to property rights depending on the scope of their use of the mark.
If the other mark owner used their trademark for a limited time in a limited area, you might be able to resubmit a registration application with Trademark Office. Keep in mind your application has now a very high probability of rejection.
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