Question

A word, symbol, name, or device that a business uses to identify its goods and distinguish itself from others is called a

• A. Trade Mark
• B. Brand
• C. Asset
• D. Trade Secret

Answer 1

The Correct Option is A

The given question asks about a concept related to how a business identifies its goods and stands out from competitors. Let's examine the options to determine the correct answer:

1. Trade Mark: A trademark is a distinctive sign, logo, word, or symbol used by a business to identify its products and services and distinguish them from those offered by others. It serves as a branding tool and provides legal protection for the brand identity. This matches the description in the question perfectly.
2. Brand: A brand encompasses the overall image and identity a company projects, including its logo, design, and name. While a brand represents the company's image, it may not have the same legal recognition or protection as a trademark unless registered as one.
3. Asset: An asset typically refers to valuable resources owned by a company, such as cash, equipment, or property. It doesn't specifically refer to the identification of goods or branding.
4. Trade Secret: This refers to confidential business information that provides a competitive edge. Trade secrets are about internal know-how rather than public-facing identification like trademarks.

Based on these explanations, the correct answer is clearly Trade Mark because it directly pertains to identifying a business's goods and distinguishing them from others. Therefore, the correct choice is Trade Mark.