What is the Function of the Trademark?
The main function of a trademark is to enable consumers to identify product (goods or services) of a particular Company in order to distinguish it from other identical or similar products provided by competitors. Consumers often develop an emotional attachment to certain trademarks, based on a set of desired qualities of features embodied in the products bearing such trademarks. Therefore, trademarks are considered to be valuable assets for most companies. Estimates of the value of some of the world’s most famous trademarks such as Coca Cola or IBM exceed 50 billion dollars each. This is because consumers value trademark, their reputation, their image and a set of desired qualities they associate with the mark, and are willing to pay more for a product bearing a mark that they recognize and which meets their expectations. Therefore, the ownership of a trademark with a good image and reputation provides a company with a competitive edge. The Importance of Protecting your Company’s Trade
