Some time back I asked @eliquid about competitor brand bidding,he said it would get you banned. Not to out anyone but,is it that all Google cares about is money in their pocket,an example is send grid.
1. Bidding on the competitor term is allowed. Meaning you bid on "send grid" and your ad is generic. - Your fine.
2. Bidding on competitor term and then having "SendGrid" in the ad too - not going to end well. If trademarked and listed with Google, Google will pretty much not show the ad or limit the ad viewing. Also, if the company see's you doing it.. you'll likely get a C&D from a lawyer.
I've also seen this go full blown lawsuit too
Many times I've also seen it where someone will have "send grid" on their LP too in either option above, and a full blown lawsuit develops.