IP Protection Framework In Nigeria - Trademarks

What Are Trademarks?

A trademark is a distinctive mark or sign that distinguishes a person's products from the products of others in the market. A trademark may be one or a combination of words, letters or numbers. They may consist of drawings, symbols, or other designs such as colour, combination of colours, shape of goods and their packaging. In some countries, non-traditional marks such as holograms, motion, and non-visible signs (sound, smell, or taste) may be registered.

Why Are Trademarks Protected?

Trademarks help businesses distinguish their goods and/or services, build brand identity and consumer trust. Trademarks ensure that consumers can identify the source of a product or service, which helps them make informed purchasing decisions. When a business develops and creates a brand, such brand acquires a reputation and goodwill overtime. These are intangible assets that can be transacted and contribute to the overall value of the business. Trademark