The text reads GESETZLICH GESCHÜTZT and therefore can only have been used in a country using German language (Germany, Austria, Switzerland and related, e.g. Silesia, Moravia). Taking the item design, overall style, possible period of such marking and central initials "B.U." into account there was only one factory which matched all that: the factory of Otto & Anton Urbach in their Brüder Urbach ("Urbach Bros.") phase between 1885 and 1906 (pre-Urbach Freres) as far as I know. The factory was located in Teplitz-Turn (Bohemia) and an early predecessor of what three stages later finally became the Ditmar-Urbach company.
