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A trademark is a distinguishing sign that differentiates the products or services of a business or individual from those of competitors, while identifying their origin and serving as a symbol of quality and a way to promote sales.
This broad concept means that a trademark may be formed of drawings, figures, images, letters, numbers, sounds, symbols, three-dimensional shapes (wrapping, packaging and presentation of the product), and words, or any combination of these.
It is advisable to register a trademark when a product or service is about to be launched on the market.
A product or service’s prestige is always associated with the trademark or brand name that distinguishes it in the market. A trademark may be so powerful that certain products sell only because they are presented by a prestigious brand name.
A company’s value is determined not only by its assets on its balance sheet, but also by its REPUTATION, along with other intangibles that are difficult to put a price on and include the value of a trademark.
A registered trademark gives its owner the exclusive right to use it and to prevent others from using the same or similar trademarks for identical or similar products or services without the owner’s consent.Trademarks are divided into different types, depending on the territory their registration covers: