Trademarks are “a key component” of any successful business marketing strategy, it has been claimed.

The World Intellectual Property Organization (WIPO) said they allow companies to identify, promote and license their goods or services in the marketplace and distinguish them from those of their competitors.

This helps to build successful commercial brands and cement customer loyalty, the body suggested.

WIPO said a trademark symbolizes the promise of a quality product.

“And in today’s global and increasingly electronic marketplace, a trademark is often the only way for customers to identify a company’s products and services,” it added.

“Trademark protection hinders moves to ‘free ride’ on the goodwill of a company by using similar distinctive signs to market inferior or similar products or services.”

The organization added that loss, dilution or infringement of a high-value trademark could prove devastating to a business.

Trademarks ‘crucial to private businesses’
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