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For many businesses trademarks are are their most valuable and important piece of intellectual property. As such, it is a vital component for businesses and requires detailed consideration and due diligence to ensure that the mark is both strong and immediately protectable.

A distinctive trademark in a competitive marketplace can often be one of a company’s most valuable assets. This is because it does not only indicate the source of a good or service, but it also differentiates that good or service(s) from that of other competitors. Separate and apart from its value as a source indicator, trademarks can also be used as collateral to secure loans and can also form the basis of corporate acquisition strategies.

Like the valuable asset they are, trademark rights should and can be protected. Resultingly, common law, state law, and federal law provide a means by which trademark rights can be acquired, maintained and protected. So, what exactly is a trademark? The term is often used broadly and interchangeably to refer to almost any type of mark, however, technically speaking, “trademark” includes any word, name, symbol, device, or any combination thereof used to identify and distinguish goods or products, including a unique product, from those manufactured or sold by others and to indicate the source of the goods, even if that source is unknown (15 U.S.C. Section 1052). For example, TESLA for cars.

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