you can bid on pretty much anything you wish to now but :
A) you may not be able to have a trademark in your advert if the advertiser has a trademark restriction in there, (but you can still bid on the trademark)
and
B) you may not be able to bid high/dumb enough to get your advert to even show.
Google can be greedy on trademarks so before you go off and and spend a week building a site because you only see 2/3 adverts for something like "virgin credit card" don't assume it's because nobody has tried very hard to get on there
The lack of coverage could be that Google want's more money than most can afford and the only ones there are either on a great deal which you couldn't compete with or are making very little if anything.
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