A trademark is a recognizable phrase, symbol, or sign
A trademark is a recognizable phrase, symbol, or sign that characterizes your service or product and legally differentiates it from other products or services of is kind. Upon registration of your trademark with the relevant authorities, you will gain the exclusive right to use it. No one else has the right to use the same brand for their products or services, or even in their marketing activities. Trademark can be of different types depending on how you want your company to be represented. The following are the various known types of the trademark; word mark, figurative or logotype mark, three-dimensional mark, sound mark, motion mark, hologram mark, multimedia mark, position mark, and pattern mark.
Trademarks are significant when it comes to running a successful company. The trademark provides protection not only to the businesses but also to the consumers. The general purpose of the trademark law is to prevent unfair competition. This law prevents other firms not to use the registered trademark by a given company. Furthermore, tradename makes it easy for customers to find you. For instance, in a crowded marketplace, customers can quickly identify you from your competitors through your brand. Besides, trademarks also offer a useful tool for communication. For instance, in a logo, marks can convey intellectual and emotional messages about you, your organization, your company’s reputation, products, and services.
The use of trademarks may cause some disputes. For instance, conflicts may arise over the succession right since it is a proprietary right. Besides, differences may also occur between the brand owner and the third party. This kind of conflict usually occurs when the third party does not honor the terms agreed upon by the owner on the use of the trademark. Besides all these controversies, it is evident that the use of trademarks has helped to protect businesses and firms from unfair competition hence should be encouraged.