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Importance Of A Trade Mark
The trademarks play an important role for the commercialization and growth of the industry. It is an asset, which forms the foundation of any business to the ultimate purchaser or the consumer. It is the trademark, which provides a link between the goods and the manufacturer. The reputation built by a trademark on account of its quality or performance coupled with the customer satisfaction, influences the customer's mind for repeat orders. The customer may not even know the name or the address of the manufacturer but it is the mark, as an ambassador of the manufacturer, which weights his decision to buy or not to buy a particularly branded product. It takes a long journey for any manufacturer to establish goodwill or reputation of his trademark in the eye of the ultimate purchaser so as to reap long-term benefits. The publicity of the trademark by the proprietor also plays an important role in a reputation built up exercise.
Trademarks establish goodwill between the source of a product or service and the consumer. A well-chosen and well-publicized trademark often has value far beyond the physical assets of a company. Trade marks uniquely associate a product or a service with a particular source, even if that source is unknown to the consumer. Thus, trade marks help businesses build and retain demand for their products and services while enabling consumers to quickly identify and make a purchase decision based upon a recognized trademark. Because of their value, it is vital for every company--be it a multinational conglomerate or a one-product start-up business--to make every effort to protect its trademarks.
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