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A trademark, trade mark, or trade-mark is a recognizable sign, design, or expression which identifies products or services of a particular source from those of others. The trademark owner can be an individual, business organization or any legal entity. A trademark may be located on a package, a label, a voucher, or on the product itself. For the sake of corporate identity, trademarks are often displayed on company buildings. A trademark identifies the brand owner of a particular product or service. They can also be licensed to other companies on sharing basis or ownership of multiple companies. The unauthorized usage of trademarks by producing and trading counterfeit consumer goods is known as brand piracy, to avoid such piracy Trademark was introduced.Terms such as “mark”, “brand” and “logo” are sometimes used interchangeably with “trademark”.
Trademark”, however, also includes any device, brand, label, name, signature, word, letter, numerical, shape of goods, packaging, color or combination of colors, smell, sound or any combination thereof which is capable of distinguishing goods and services of one business from those of others. Since trademarks are so important and crucial to any business ventures owning a trademark is equally important. Trademarks rights must be maintained through the actual lawful use of the trademark. These rights will cease if a mark is not actively used for a period of time, normally 5 years in most jurisdictions. In the case of a trademark registration, failure to actively use the mark in the lawful course of trade, or to enforce the registration in the event of infringement, may also expose the registration itself to become liable for an application for the removal from the register after a certain period of time on the grounds of “non-use”
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