A trademark is:
- a word, (coca-cola ®)
- a symbol
- a logo
- a design (Burberry pattern)
- an internet address (ollip.com)
- a phone number (Pizza Pizza’s 737-1111)
- a shape/mode of wrapping ®
- colour applied to a surface (UPS outfit)
- a combination that distinguishes the goods and/or services of one person from that of another in the marketplace.
Whereas a trade name is the name by which a business identifies itself. This may also be a
corporate name such as OLLIP P.C.
A trademark is part of the umbrella of creative rights known as intellectual property, an asset which can be, for instance, used as a source of collateral to obtain financing.
A registered trademark is a government granted monopoly that gives you the exclusive right to use your trademark in association with certain goods or services for a period of 10-15 years (subject to renewal) throughout Canada. It also prevents others from importing or selling in Canada any goods or services bearing your trademark. A trademark registration in Canada does not extend to foreign countries. There is no universal or worldwide trademark. You must apply separately in and for other countries. Also, foreign trademark registrations do not protect a trademark in Canada.
As you can tell, we are talking about the power of brands which create instant recognition, customer loyalty and allow premium pricing.