Most businesses and entrepreneurs understand the power of brand recognition, and for many, trademarks are an essential tool in the toolbox. But what is a trademark, and how does it help to distinguish your products from those of competitors?
What Is a Trademark?
Simply put, a trademark is a sign used to distinguish a company’s goods or services from those of other companies. Trademarks can be words, phrases, symbols, or even designs, and they serve as uniquely recognizable indicators of origin.
A trademark can be obtained by an individual or legal entity and essentially “reserved” for exclusive use in connection with the products and services it covers. This helps define the boundaries between how competitors are able to market and specialize their services. An example of this is the brand face of Apple, which uses its trademarked Apple logo to distinguish its products from other technology products.
What Are the Benefits of a Trademark?
Registering a trademark provides a number of tangible benefits, including:
- Exclusive rights to use the trademark on certain products or services.
- The right to protect the mark against unauthorized use by others.
- The ability to license the use of the mark to a third party.
- The right to bring a lawsuit for trademark infringement.
Trademarks provide your business with a powerful tool in the market. A strong, well-protected trademark helps customers to identify and differentiate your products and services from those of competitors.
Protection of Trademarks
Trademarks can be registered with the U.S. Patent and Trademark Office to obtain additional legal protection. As a registered trademark, a company will be able to bring an infringement action against any other business using a similar trademark. Trademarks can also be registered internationally through the World Intellectual Property Organization.
Understanding trademarks is essential for any business wanting to build and protect its brand. Taking the time to research and develop a strong trademark — and, if necessary, registering it — can provide your business with valuable protection against competitors and help you to establish yourself in the marketplace.