A trademark may be a word, symbol, design, or some combination that identifies the source of certain goods. A trademark can last indefinitely, as long as it continues to perform its indicated function. The trademark is given a 20-year registration with 20-year renewable terms. In the fifth to sixth year, you must file an affidavit with the PTO indicating that the patent is in commercial use. Today the law allows filing a trademark solely on the intent to use the trademark in interstate commerce. There are benefits to registering a mark that has already been in use. Categories of trademarks: Coined marks denote no relationship between the mark and the goods and afford the possibility of expansion. An arbitrary mark is one that has another meaning in our language. A suggestive mark is used to suggest certain features or characteristics of a product or service. A descriptive mark must have become distinctive and gained recognition before it can be registered. Registering a trademark can offer significant advantages to the entrepreneur.
The PTO is responsible for federal registration of trademarks. To file, the entrepreneur must complete the application form, which can be downloaded from the PTO website. Filing of the registration involves four requirements:
This topic covers various aspects concerning with the strategy evaluation and enables you to understand the process of strategy evaluation.
Four Criteria (Richard Rummelt): He explains four criteria for strategy valuation. These four criteria are as follow
Strategy should not present inconsistent goals and policies.
Need for strategies to examine sets of trends
Neither overtaxes resources nor creates unsolvable sub problems
Creation or maintenance of competitive advantage