Trademark

A symbol, logo, or name used to enable the public to identify the supplier of goods. In the UK and many other countries, trademarks can be registered, which gives the holder exclusive right to use them. Manufacturers may register trademarks, distributors, or importers [Black, Hashimzade, Myles, p. 353]. A design, slogan, or word that sets apart one source of goods from another. Registered trademarks prevent others from legally using the same designs. In China, trademarks must be registered with the Trademark Office of the SAIC according to the Trademark Law of the People’s Republic of China. The application process is first-come, first served, so if two entities apply for the same trademark, the first application will be approved [Hsu, p. 360]. The trademark owner may assign it or, subject to the Registrar’s approval, allow others to use it. Suppose anyone uses a registered trademark without the owner’s permission or uses a mark that is likely to be confused with a registered trademark. In that case, the owner can sue for an injunction and damages or an account of profits. A trademark is a form of intellectual property and is an intangible asset [Law, p. 357]. A registered mark that gives a company the exclusive use of a name on a defined set of products and services in either a specific or a general category. Other trademarks are restricted to specific categories and have exclusive right only in that category. This is important in brand management [Doyle, p. 355]. A distinguishing name or logo intended to identify the goods or services of one or a group of sellers, a trademark or brand was designed initially to signal to customers the source of a product and to protect both customers and producers from competitors who might attempt to provide identical looking goods of lesser quality. The other purpose of branding is to confirm the legal protection afforded by an inventor's patent to fight counterfeiters [Bouissac, p. 320].

Sources:

Black, J., Hashimzade, N., Myles, G. (2017). A Dictionary of Economics. Oxford: Oxford University Press.

Law, J. (2016). A Dictionary of Accounting. Oxford: Oxford University Press.

Hsu, S. (2018). A Dictionary of Business and Management in China. Oxford: Oxford University Press.

Doyle, C. (2016). A Dictionary of Marketing (4 ed.) Oxford: Oxford University Press.

Bouissac, P. (Ed.) (1998). Encyclopedia of Semiotics. Oxford: Oxford University Press.