A trademark is any word, name, symbol, or device capable of distinguishing the goods or services of one person from those of others, and may include shape of goods, their packaging and combination of colors. Trade Mark includes a brand name, a house mark, and a service mark. A trademark may be an insignia, label, name, sign, logo, device, signature, numerals, packaging, shape of goods, color combination etc. In other words, a trademark is a visual symbol used in relation to any goods or services to indicate some kind of trade connection between the goods and services and the person using the mark. It usually identifies the product and acknowledges its unchanged quality and helps to advertise the product. This gives the consumer satisfactory assurance of the quality of the article he is buying. Their duration is not limited and they may last forever, subject to renewals at proper intervals. Priority of right is determined by who first used the mark within the particular geographic area. In those countries, which recognize common law rights, use of a mark commercially must be demonstrated before grant of registration of the mark. If they are not properly used and protected, it becomes difficult to be enforced against misuse.
Brands today are demonstrably the most powerful and sustainable wealth creators in the world. Therefore, a brand’s future needs to address how to be better, stronger, more distinctive and more valued. The definition of a brand is probably more complex today than it has ever been. People have more choice today than they ever had before. So, the brand must be, so to say, a bridge of trust to the consumer. Trust is undoubtedly the future of a brand. A brand has to be customer-friendly. There are many characteristics shared by the strongest brands today, the most critical of which are clarity, consistency and leadership. Around the world, millions of dollars are spent every year in building a strong brand.
A brand is the identity of a product and assures of a pre-sold quality. Corporate image is now a day’s being treated as a brand. It is the net result of interaction of all experiences, interaction of belief and knowledge that people have about the company, and many products have names synonymous with the brand names. A brand thus generates the goodwill of the company also and, therefore, needs to be protected. Goodwill is generated as the business is carried on and is augmented with the passage of time, and it is the mechanical quality of a particular trade, which attracts the customers. Goodwill has become a component of the total value of an undertaking that is attributable to earn profits. Therefore, brand protection becomes inevitable in the present day scenario.