Trademarks protect trademark registrants by ensuring they have the exclusive right to identify the source of goods or services, or to license their use to others for remuneration.
Broadly speaking, trademarks promote a spirit of initiative and enterprise worldwide by rewarding trademark registrants with recognition and economic benefits. Trademark protection also prevents unfair competitors, such as counterfeiters, from using similar distinguishing marks to market inferior or different products or services. This system enables skilled and enterprising individuals to produce and sell goods and services under the fairest possible conditions, thereby promoting international trade.
Trademarks are an important part of product and packaging design. Beautifully designed, meaningful, novel, and distinctive trademarks can effectively decorate products and enhance packaging, making consumers more willing to purchase them.