All of us can recognize a trademark when we see one: the golden arches of McDonald’s, the red background and distinct white lettering on a Coca-Cola can, etc., but few people understand what a trademark is and why they exist.
Although they are valuable to the owner, trademarks and the corresponding body of law exist to protect you as the consumer. Trademarks are images, words, or phrases that are meant to signify that a certain product or service is associated with a certain entity (the owner of the trademark). When the law says that one company cannot use another’s trademark, it is ensuring that when you buy a product or service bearing the “™” or ‘®” belonging to a certain company, you are protected in the knowledge that the quality of the product or service you expect from that company will, in fact, be present.
The benefit of owning a trademark to a company lies in building its brand, creating a recognizable image or catch phrase that customers will associate with the company, and creating goodwill with the consumer by adhering to a level of quality that the mark will signify to customers.
