Trademarks and patents
People identify a particular product by its name, logo or symbol, like Pepsi, Nike, Adidas, Yonex or Slazenger. Everybody knows Pepsi is a cola with a unique taste. Suppose, the Pepsi bottle and logo were imitated and some other cola was filled in the bottles that bear Pepsi logo. The customer, who unknowingly buys the bottle expecting it to have its distinctive taste, would obviously be displeased. And the company would start losing its customers. This is the importance of trademarks. Basically, trademarks are just ordinary logos, symbols, designs, etc., that people mentally associate with a product. This mental linking between the trademark and product starts from the first marketing campaigns. Over a period, the good name that product gets for itself becomes inseparable part of the trademarks. Therefore, infringement of trademarks can have bad consequences for any company. Because it is a concept that has something to do with intellectual association of the product with the symbol, logos, etc., it is classified as an intellectual property.
Patents are also intellectual properties. Here the business enterprise does extensive research on a product. It spends lots of money, manpower, and other resources on the research and development, and just when it is finally in the form that is fit for marketing, somebody steals or copies the technology or formulae. That would be unfair on businesses that went through laborious research and incurred the cost of research. Therefore, the moment a new product is developed; businesses get a patent registered for its technology or formulae . Patents registration means registration of the technology or formulae with the state government in a specific application form wherein the invention is disclosed. By doing so, the company gets exclusive rights to manufacture goods with that technology or formulae. Obviously, whatever is covered under the patent must be new invention, or new formulae that has industrial application. Patents, however, have an expiry period. Object of granting exclusive rights to the inventor is to let it recover all the research and development costs within the patent period. Generally, patent rights last for 20 years.
There is no hard and fast rule that trademarks should be registered. However, registration does help in reducing problems in future. There are a couple of interesting aspects about trademarks. Using the name Nike for selling a cola would not amount to infringement of trademark, because it does not affect the prime business of the shoe manufacturer. Its a different issue that goodwill of Nike could be affected if the cola turns out to be bad. Similarly, a maple leaf could be used as a logo by different business enterprises in different countries for the same product or services so long as their markets do not overlap. There are trademarks and patents attorneys in every state of United States because each state has its own set of laws governing patents. Every country also has its own set of patent laws . If a business enterprise fails to obtain patent for its invention immediately, there is a probability that somebody else might discover the same formulae or technology, and apply for patent. Once that happens, there is little scope for the first inventor to claim exclusive rights related to its inventions.
How are trademarks different from patents Major differences between the two are
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