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Intellectual property and Marketing (Patents (A patent gives a business…
Intellectual property and Marketing
Trademark
A trademark is any symbol and/or word(s) that are legally registered to be used by the business on its product and service. The trademark is " the face of the business"
A trademark helps customers to distinguish one business's products and services from that of competitors which helps with a competitive advantage in the market. Especially if a new product is added to a range using an established trademark that is already known for its good quality
Patents
A patent gives a business the protection of sole right to a particular product or a manufacturing process for a certain period of time
A patent is often registered when it offers a new way of doing something of if it solves a particular problem in a unique way
Patents are often only granted for a particular period of time and the business that holds the patent has to use this competitive edge advantageously to gain a sound footing in the market to attract loyal customers as quickly as possible
Industrial Designs:
If the industrial design becomes part of the products's registered trade mark, the products's aesthetic appeal will be protected e.g. its colour, shape,pattern or special appearance
Examples of such designs used by various products
Coke's unique glass bottle and the coke "red" colour
The unique shape of an apple phone
Collective Marks
A collective mark is a sign that helps distinguish a product or service by geographical origin, materials used or a particular way of manufacturing
Businesses could join a particular criteria(e.g.. South African Bureau of Standards) other examples of such collective marks are:
Proudly South African mark
Fair Trade
Environmentally Friendly mark etc
Business will need to meet and maintain a particular level or standard to use these well-known marks on their products or services