Final answer:
The statement is true; a collective mark is a type of trademark owned by a member of a specific organization. Trademarks can be symbols, words, or designs, like the Nike "swoosh," and are crucial for distinguishing one company's goods or services from another's.
Step-by-step explanation:
A collective mark is indeed a type of trademark, but it specifically indicates that the owner of the mark is a member of a particular organization. The statement that a collective mark identifies a trademark owned by a member of a certain organization is true. Trademarks are important legal tools used by firms to distinguish their products or services from those of others. They can take the form of symbols, words, designs, or a combination of these elements. For instance, the Nike "swoosh" or the name 'Chevrolet' for cars represent widely recognized trademarks. With nearly 1.9 million trademarks registered with the U.S. government, companies actively use these marks in the marketplace, and they can renew their trademarks multiple times as long as they remain in active use.