Establishing a brand identity is important for every business. In doing so, there are assets and language defined that need protection that separates you from your competitors. That is where a trademark makes a difference. In this post, we are discussing what a trademark is and its benefits.
Defining a Trademark
A trademark is any word, symbol, or design that shows the source of a good. Some examples of famous trademarks are “Pepsi,” “Apple,” and “Coppertone.” Trademarks are used to easily tell different brands, products, and services apart from one another. This protects companies from having their consumers or “brand” stolen while also protecting against companies selling inferior products under a company’s name.
If trademarks were not protected, a company could sell a cola drink called “Peppsi” with blue, red, and white designs on the label. If someone were to see “Pepsi” and “Peppsi” next to each other in the grocery store, they might not notice that the two are different products. This shopper could even think that both sodas were made by the same company. If the shopper buys “Peppsi” and it is poorly made, they could end up blaming Pepsi in their confusion, and not buy from either company anymore. In this situation, Pepsi is severely hurt—not only was this customer tricked into buying a different company’s product, but their perception of Pepsi was damaged.
Trademarks do not have to be names, though; other famous trademarks are “Finger Lickin’ Good,” the shape of a Toblerone, Tiffany Blue, and the Nike logo. Owning a trademark does not mean that you own the exclusive rights to everything in your trademark—it just means that other companies cannot use it for similar products.
Protecting Your Trademarks
Your trademarks help identify your brand and reputation. Carrying enforcement and/or defense coverage on your trademarks is a wonderful tool for protecting your intellectual property. You can click here learn more about our insurance policies and how IPISC can help you protect your brands from trademark infringement.
