This is the first in a series of introductory articles on the topic of trademark law.
From the moment we awake to the moment we go to sleep, the average U.S. consumer comes into contact with more than 200 trademarks. Think back to your first moments after awakening this morning. Did you hit the snooze button on your Sony® alarm clock radio and then lie back down on your soft Wamsutta® sheets? Did you brush your teeth with an Oral B® toothbrush and Crest® toothpaste, shower with Dove® soap and wash your hair with Prell® shampoo?
Strictly speaking, a trademark is defined as any word, name, symbol, design, device, logo, slogan, or any combination thereof, used by a business to identify and distinguish its goods from the goods of others, while a service mark is used to identify and distinguish its services. For the sake of simplicity, the terms trademark and mark are commonly used to refer to both trademarks and service marks.
Often, a company’s trademarks are among its most valuable assets, if not its most valuable assets. The value of a trademark reflects the goodwill consumers have for the brand; and that value increases as consumers come to trust that the products sold under the trademark will meet a certain level of quality and reliability. According to a recent survey, the top five global brands, Coca-Cola®, Microsoft®, IBM®, GE® and Nokia®, are collectively estimated to be worth over $264 billion.
To maximize the investment and return a company can realize in its marks, it will want to choose a strong mark for its new products. The next article in this series will familiarize the reader with the continuum of trademark categories, from weak to strong, and will discuss how a strong mark affords the trademark owner with greater legal rights in both enforcing and defending its mark from day one.
This article does not constitute legal or other professional advice or services by JORDEN BURT LLP and/or its attorneys.
JORDEN BURT LLP is a law firm with a unique focus on financial services and a national reputation in high stakes litigation, financial regulation and product counseling.
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