Trademark
A Trademark is a visual symbol in the form of a word, a device or a label applied to articles of commerce with a view to indicate to the purchasing public that they are the goods manufactured or otherwise dealt in by a particular person as distinguished from similar goods manufactured or dealt in by other persons. Trademark is a mean to protect the goodwill, money and time invested by the entrepreneur to manufacture and market the goods and services. A registered trademark can be protect against unauthorized use by others by an action for infringement.
Under modern business conditions a trademark perform four functions:
- It identifies the product and its origin
- Guarantees its unchanged quality
- Advertises the product and
- Create an image for the product
A person who sells his goods under a particular trademark acquired a sort of limited exclusive right to the use of the mark in relation to those goods. Such a right acquired by use is recognized as a form of property in the trademark, and protected under common law. A person can also acquire a similar right over a trademark by registering it under the Trademarks Act 1999.