Final answer:
A trademark distinguishes a product from others and is an identifying symbol or name that consumers recognize. It can be legally registered for exclusive use and can be renewed indefinitely as long as it is actively used.
Step-by-step explanation:
The term for a word, slogan, symbol, name, package design, or device that distinguishes a product from other products is a trademark. A trademark is an identifying symbol or name that consumers recognize as representing a particular good or company.
For instance, while there are many orange drinks available on the market, Fanta's specific formula and branding elements like logo and packaging are protected by trademark. Similarly, the distinctive Chevrolet emblem on cars or the iconic Nike "swoosh" on shoes and athletic gear are both examples of trademarks.
These protected marks play a critical role in product differentiation, which is a strategy companies use to make their products stand out in the marketplace. Trademarks are legally registered with governmental bodies, such as the U.S. government, where around 1.9 million have been registered. They can be renewed indefinitely, ensuring ongoing exclusive use, as long as the trademark remains in active use.
The complete question is: What is the term for a word, slogan, symbol, name, package design or device that distinguishes a product from other products? is: