What is a Trademark?
You’ve heard of the word “trademark,” but you may not be sure what it is or how it could benefit your business. In general, a trademark refers to a word, logo, or slogan which points consumers to a single source for products or services. It is commonly referred to as a brand name.
A trademark identifies the particular manufacturer or seller’s products and distinguishes them from the products of another. A service mark does the same, but for services instead of products. The term “trademark” is often used for marks that identify both goods and services.
How do trademarks differ from other forms of intellectual property, such as patents and copyrights? Well, a patent protects inventions and innovations, from new products, processes, or solutions to improvements on existing technology. A copyright protects original works of authorship (e.g., art, books, music, movies, and other creative works).
Trademarks perform a couple of functions. The first is brand recognition. They prevent consumers from confusion by making it easier to identify the source of particular products or services. For instance, instead of asking a store clerk who makes a certain sneaker, a consumer can look for identifying symbols, like a swoosh or a pattern of stripes, or words, like Nike or Adidas. Second, trademarks are an important step for protecting your brand reputation. Trademarks protect the “goodwill,” or reputation, their owners have in their brands, goods, and services. Trademark protection allows an owner to prevent a competitor from imitating its brand or selling counterfeit products.
While you don’t have to register your trademark, a registration gives you certain legal rights and recourses that an unregistered trademark will not. A federal registration will allow you to use the ® designation to inform people that your brand name or logo is protected nationally. A state trademark registration may also be obtained, but they only protect a mark in the particular state, and owners may not use the ® symbol.
Trademark protection can potentially last forever with continued use and maintenance. The duration of a federal trademark registration in the United States is ten years, but with proper maintenance and continued use, it can be renewed. In contrast, other forms of intellectual property have limited periods of protection. Patent protection lasts for 20 years and can’t be renewed. Generally, a copyright lasts for the lifetime of the creator, plus 70 years.