Introduction
A trademark is a symbol, design, word, or phrase that identifies one business, goods or services from those of another. A trademark not only gives the trademark owner the exclusie right to use the mark, but also allows the owner to prevent others from using a similar mark.
Singnificance of Trademark
- It is an asset, which forms the foundation of any business to the ultimate purchaser or the consumer.
- It is the trademark, which provides a link between the goods and the manufacturer. The reputation built by a trademark on account of its quality or performance coupled with the customer's satisfaction, influences the customer's mind for repeat orders.
- Trademarks protect the consuming public by preventing confusion as to the source of goods or services.
- Trademark are economically efficient communication tool .
- Trademark are one of the few assets that provide you a long-term competitive advanctage.
- Trademark support stronger sales volume, stronger margins, and can provide price maintenance legally.
- Trademarks are very effective against unfair competition.