Final answer:
A trademark is a word, name, symbol, or device used to identify and differentiate a manufacturer's or seller's goods and indicate their source. It grants exclusive use of the mark in commerce to the holder and is essential for brand recognition and protection.
Step-by-step explanation:
The term that describes a word, name, symbol, or device used by a person, generally a manufacturer or merchant, to identify and distinguish its goods from those manufactured or sold by others and to indicate the source of the goods is a trademark.
A trademark is granted on form and style, not the actual idea, ensuring that a company's product is recognized by consumers and differentiated from competitors' products. For instance, many companies can produce an orange drink, but only one company holds the trademark for their specific brand, like Fanta.
As a legal concept, a trademark serves as an identifying symbol or name for a particular good, and notable examples include Chiquita bananas, Chevrolet cars, or the Nike "swoosh" on athletic gear. There are approximately 1.9 million trademarks registered with the U.S. government, and a firm can renew its trademark as necessary, provided it remains in active use.
Graphic designers often create logos, which are symbols that carry the corporate identity of a company. These logos function as trademarks and must be easily identifiable, unique, and embody the character of the business they represent.