Trademarks
What is a trademark?
A trademark is a recognizable mark, phrase, word or symbol that designates a particular product and distinguishes it from other products of its kind. A trademark identifies a product as belonging to a particular company and recognizes the company’s ownership of the brand. Like a trademark, a service mark identifies and distinguishes the source of a service, not a product.
The term “trademark” is often used to refer to both trademarks and service marks, but in both cases they are considered a form of intellectual property. A trademark can be in the form of a corporate logo, slogan, brand, or product name. However, the registration contains some vague boundaries that prohibit any marks that are somewhat similar to the existing one. Thus, a company cannot use a symbol or trademark if it is similar, sounds or has the same meaning as the registered one, especially if the goods or services are related. Companies use one of three symbols to indicate that a trademark has been claimed:
- ™ – The use of this trademark symbol after a logo or phrase alerts competitors that the logo or phrase is the property of the company, but does not imply an official claim.
- ® – This symbol, which denotes a registered trademark, can only be used by companies that have officially registered the trademark.
- SM – The Service Mark Logo is used by companies that provide services, but sometimes organizations use a trademark mark instead.
A trademark protects words and design elements that identify the source, owner, or developer of a product. A patent, as opposed to a trademark, protects an original invention for a certain period of time, and has several variations. Copyright, unlike patents and trademarks, protects “works of authorship” such as literary works, art, architecture, and music. Individuals and companies have trademarks or trademarks that protect the product from being used without the permission of the source company.
Many countries have patent laws designed to protect against copyright infringement. However, international copyright regulation is more complex as there is no universally recognized patent office, regulation or consistency. A company or individual does not need to register a trademark to obtain protection rights, but there are certain legal advantages when registering. Trademark law and copyright law rarely overlap, but it can happen, for example, when an illustration is used as a logo, the design may be protected by both copyright law and trademark law.
Once a trademark is granted, there are three key benefits to the owner:
- Notice of claim against any other business wishing to use the same symbol or word that contains the trademark;
- Legal presumption of ownership that can help reflect potential users;
- Exclusive right to use the claimed trademark.
Trademarks can be bought and sold. In addition, they can also be licensed to other companies for an agreed time frame under certain conditions, which could lead to brand transfers. Examples of famous, effective brands are countless. The strength of branding in business is critical and helps companies stand out in the marketplace. Trademarks not only help differentiate products within legal and business systems, but also attract consumers.