How is «brand» different from «trademark»?
Trademark is a designation used to ascertain goods of legal entities or individual entrepreneurs, to which the exclusive right, certified by a certificate of registration, is recognized.
The main differences between «brand» and «trademark» are given in the table below:
|Trademark has an exact date of registration||Brand is created over an extended period of time|
|Legal entities have to pay a fee for trademark registration||Significant funds are invested in brand development throughout the entire period of its use|
|Trademark is a legal term||
Brand is an economic term having features such as recognition, exclusivity, guaranteed quality, associations, emotions, impressions
Brand success largely depends on the effectiveness of communication with consumers in a particular market segment. Moreover, a brand may be successful in one market, but not successful in another.
A trademark can become a brand if positive communications “object-target audience” become significantly stronger and more stable in comparison with similar communications of competing objects. In this case, we can say that the brand is a well-known and widely recognized trademark.