Significance of Trademark Law
Trademark refers to a word, letter, phrase or symbol that is used to identify the source of the goods and services from a specific producer or manufacturer for the purpose of recognition and indication of the source of the product . Trade mark law is a policy that produces terms and conditions plus rules and regulations which are very essential in helping the business owners, companies and organisations in the process of coming up with ways to produce the logos, names, phrases and other signs in the identification of their goods and services in order to reduce the number of disputes between the business owners, the organisation and companies which may arise from them having same logos that identify their products.
Trade mark law plays a very important role in any society that carries out business activities or produces certain goods and products.
The following are the ways in which trade mark law serves a very significant purpose in the business economy and how this positively affects businesses, companies, organisations and consumers a s whole. Law firms help to promote peace in that they provide laws which ensure that different business and companies use different and specific logos to identify their goods and eservices and us a result preventing any conflicts between them resulting from the sharing of the same logo.
overall purpose of trade mark law is to prevent unfair competition by protecting the use if a symbol, word, design, phrase or logo that uniquely differentiates the goods and services of one firm, organisation, company or business from the other.
The trade mark law is very important because it helps consumers to have the products and services which they normally use protected and thus they have to stick to the products and services without getting worried that anything might change concerning the product or service in any circumstance
Trade mark law is put into practise in order to avoid consumer confusion and preventing companies from attenuating the logos, words, phrases, designs or signs used by other companies or manufacturers to identify their products and services.
By trade mark law helping companies, business owners and organisations in developing the goodwill of their products and service to helps to also ensure that other parties are prevented from exploiting the brand of the company’s or organisation’s products and services.