Final answer:
When a trademark becomes generic, it loses its protections and others can use the same word or symbol. This can lead to competition and confusion among consumers.
Step-by-step explanation:
When a trademark becomes a generic word for a product, it loses its trademark protections. This means that other companies can use the same word or symbol to describe their own similar products, leading to competition and potentially confusion among consumers. An example of this is the word 'aspirin,' which was originally a trademark but became generic over time, allowing multiple companies to produce and sell aspirin.
When a trademark becomes generic, the owner of the trademark can no longer prevent others from using the word or symbol to describe their products. This can have negative implications for the original trademark owner, as it may lead to a loss of brand recognition and market share. It's important for companies to actively protect their trademarks to prevent them from becoming generic.