Final answer:
A trademark consists of legal protection given to a brand for its exclusive use and distribution. It helps create uniqueness and appeal for the brand.
Step-by-step explanation:
A trademark consists of legal protection given to a brand in order for its owners to possess private rights to its use and distribution, creating exclusivity and appeal for that particular brand.
For example, the Nike 'swoosh' symbol is a trademark that represents the Nike brand and is recognized by consumers as a symbol of their products.
Roughly 1.9 million trademarks are registered with the U.S. government, and a firm can renew a trademark repeatedly, as long as it remains in active use.
The term trademark refers to a recognizable insignia, phrase, word, or symbol that denotes a specific product and legally differentiates it from all other products of its kind. A trademark exclusively identifies a product as belonging to a specific company and recognizes the company's ownership of the brand.