On 2024-09-18 6:10 PM, Ivan Panchenko via Unicode wrote:
It would look funny precisely because of the semantics. In that case,
the sign is not just attached to a trademark but simply on a line of
text which itself is already an annotation, so there is no reason for
superscripting the circled R, of course.

Here's another label scan from 45cat:
https://www.45cat.com/record/p8046

This one is "I Won't Grow Up" by The Fools.

Both the ℗ and ® symbols can be seen on that scan.  The "®" symbol is superscripted, which is the stylistic convention when it is associated with a logo.  Because it is the logo which is important and nothing should distract from it.  The logo cannot be reproduced in plain text, of course, but it can be represented in plain text with no loss in legibility:  "EMI ®".  There is no semantic distinction involved regardless of font choice.

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