A trademark is a distinctive sign or indicator, used by an individual, business, organization or other legal entity, to identify source of goods or services. A trademark is also used to distinguish its products or services from those of other entities.
A trademark is typically a name, word, phrase, logo, symbol, design, image or a combination of these elements. There is also a range of unconventional trademarks comprising of marks backed on color, smell or sound.
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Why Do You Need a Trademark?
Federal registration of a Trademark increases the value of a company and limits the likelihood of future lawsuits. Registering the trademark with a patent and trademark office offers these advantages:
- Registration puts the public on notice that your company has claimed the Trademark; there is no defense to a lack of notice for infringement.
- Registration is considered sufficient proof in court of the trademark’s validity.
- The registrant may obtain relief against imported products bearing an infringement trademark.
- A registrant successful in the lawsuit can get an injunction against the infringer, recover additional damages, and be assured of the infringing label’s destruction.
- A registered Trademark adds value to a company’s intellectual property which is taken into account in the event the business is sold or valued by an appraiser.
These are general advantages of a Trademark. There may be specific, additional advantages depending on the specific business sector.
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