Final answer:
The purpose of a trademark is to protect a company's intellectual property by legally securing a unique symbol, name, or device associated with a specific product, such as the Fanta brand for an orange drink or the Nike "swoosh". This ensures consumer trust and differentiates products in the marketplace. The correct option is C) To protect intellectual property.
Step-by-step explanation:
The purpose of a trademark is to protect intellectual property. A trademark is a word, name, symbol, or device that is used in manufacturing or creating a product that consumers can identify and associate with a specific company or product. These symbols serve as legal protection for the brand's identity, differentiating one business's goods or services from another's.
For example, while many companies may produce orange drinks, it is the Fanta brand that has legally protected rights to its unique presentation and branding among orange drinks. This ensures that, when consumers buy a product with the Fanta logo, they can trust they are getting the product from that specific company.
Intellectual property laws, enacted by countries around the world, allow companies to register their trademarks. Once registered, a trademark can be renewed indefinitely, so long as it remains in active use. This allows companies like Chiquita, Chevrolet, and Nike, known for its "swoosh" symbol, to maintain exclusive rights over their trademarks.
It is these laws, overseen by organizations such as the World Intellectual Property Organization (WIPO), that safeguard a company's branding, thus enhancing the value of the company and protecting the interests of consumers.
In response to the question, the correct option is C) To protect intellectual property.