Abstract:
Trademark is one of the types of intellectual property rights. Trademark is any term, phrase, symbol, or design, or a combination of phrases, words, symbols, or designs, that identifies and separates the products of one producer or seller from those of others who might also offer those particular products. The primary objective is to identify the origin of the products, not to describe their characteristics. The distinctive identification that sets apart your business, product, or service from the competitors is known as a trademark. A registered trademark is an intangible asset and piece of intellectual property of your business.It protects the investment made to gaining consumer’s loyalty and trust.
A trademark registration gives you the legal ability to sue those who try to copy your trademark and prohibits them from using a mark that is likely to cause confusion to the one you have registered. The trademark concept was utilized in nineteenth-century by courts to effectively define trademarks as property rights. To understand the reason for trademarks as property rights, this intellectual understanding is a must. If property emerges from productive, value-creating work, this explains why ownership of a mark is essential to its initial legal recognition and continuous protection. This value is known as "good will," and it is frequently described as a property right as a whole. Therefore, trademark law protects the exclusive use of a mark as a representation of the exclusive use and enjoyment of the underlying property right in the goodwill in the business.
