What is a Trademark?A trademark is a unique symbol or word(s) used to represent a business or its products. Once registered, that same symbol or series of words cannot be used by any other organization, forever, as long as it remains in use and proper paperwork and fees are paid. Show
Unlike patents, which are granted for a period of 20 years, trademarks never end. Companies do need to apply for them and receive ownership confirmation with the U.S. Patent and Trademark Office in order to claim protection from copycats, however. Over time, trademarks become synonymous with a company name, so that you don’t even need to see the name to recognize a particular business. Think of the apple shape with the bite taken out that Apple uses as its logo, the swoosh logo that Nike features on all of its products, or the golden arches McDonald’s registered decades ago. The fact that we so easily associate symbols and words with companies and their brands is one of the biggest advantages of their use. When a customer sees a familiar logo or phrase, they have instant recognition, which can drive preference and, ultimately, sales. Signs of a TrademarkTo indicate that a trademark has been claimed companies use one of three symbols:
Protecting a TrademarkAlthough a trademark is issued for the life of a company or product, businesses do need to guard against phrases becoming generic. This typically happens over time when people use a company’s product name to mean all products or processes like it. Think Kleenex used for facial tissues, or Xerox for photocopying. To continue to claim that trademark, those companies need to notify people who misuse the term to stop. Benefits of RegistrationOnce a trademark has been granted, the owner receives three key benefits:
Filing a Trademark ApplicationThe process of filing for trademark registration is fairly simple. It can be done online through the Trademark Electronic Application System and costs between $225 - $325. Brand A brand (or marque for car model) is a name, term, design, symbol or other feature that distinguishes one seller's product from those of others. Brands are used in business, marketing and advertising. In accounting, a brand defined as an intangible asset is often the most valuable asset on a corporation's balance sheet. Brand owners manage their brands carefully to create shareholder value, and brand valuation is an important management technique that ascribes a money value to a brand, and allows marketing investment to be managed (e.g.: prioritized across a portfolio of brands) to maximize shareholder value. Although only acquired brands appear on a company's balance sheet, the notion of putting a value on a brand forces marketing leaders to be focused on long term stewardship of the brand and managing for value. The word "brand" is often used as a metonym referring to the company that is strongly identified with a brand. Brand Name An arbitrarily adopted name that is given by a manufacturer or merchant to an article or service to distinguish it as produced or sold by that manufacturer or merchant and that may be used and protected as a trademark. Brand Mark Brands use visual images, elements or symbols to get themselves identified by their consumers. These are called Brand Marks. Brand marks serve the purposes of contributing to building and maintaining brand’s image. Trademark A trademark is a recognizable sign, design, or unique expression related to products or services of a particular source from those of others, although trademarks used to identify services are usually called service marks. Service Mark A service mark or service mark is a trademark used in the United States and several other countries to identify a service rather than a product. When a service mark is federally registered, the standard registration symbol ® or "Reg U.S. Pat & TM Off" may be used (the same symbol is used to mark registered trademarks). A service mark differs from a trademark in that the mark is used on the advertising of the service rather than on the packaging or delivery of the service, since there is generally no "package" to place the mark on, which is the practice for trademarks. Distinguish brand versus generic. Mainly used in Pharmaceutical products. Brand Name Drugs · Also called “innovator drugs” · Initially marketed as new chemical entities · First version sold by the innovator manufacturer is known as the Canadian Reference Product Generic Drugs · Copies of brand name drugs · Produced after the original patent expires Although the active ingredients are the same, the inactive ingredients may differ. This is only important in rare cases when a patient has an allergy or sensitivity to one of the recipients. The product may also be slightly different in colour, shape, or markings. The biggest difference is cost. Generic drugs are generally less expensive than brand name comparators. What is brand mark and trade mark?A brand name may be a company name or a name ascribed to a particular product or service. It is what the company uses to represent its goods and services and what consumers use to refer back these goods and services to their source. A trade mark is an intellectual property right that protects a brand.
Is a legal term for brand name brand mark or trade character quizlet?Trademark- A brand name, brand marl, trade name, trade character, or a combination of these that is given legal protection by the federal government. You just studied 12 terms!
What is the difference between a brand mark and a trade character?Summarising the difference between a brand and trademark
A trademark is a term, phrase, or symbol that is legally protected by statute. A brand name is not protected legally. There is no legal obligation associated with the brand name.
Is the brand name the trade name?Is trade name the same as brand name? A trade name is used in the course of business that doesn't include the full legal name of the business. On the other hand, a brand name is a name given by an organization to a particular product or service.
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