Question

A word, symbol, name or device that a business uses to identify it's goods and distinguish itself from competitors is known as

• A. Patent
• B. Copyright
• C. Trademark
• D. Trade secret

Hint:

Think: Patent = Invention; Copyright = Art; Trademark = Brand/Logo; Trade Secret = Formula.

Answer 1

The Correct Option is C

Step 1: Understanding the Concept:
Intellectual Property Rights (IPR) are legal rights given to people over the creations of their minds.
Step 2: Detailed Explanation:
1. Trademark (3): This is the correct answer. It is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises. It can be a logo, slogan, or name.
2. Patent (1): This is for an invention (a new process or product).
3. Copyright (2): This protects original works of authorship like books, music, or films.
4. Trade Secret (4): This protects confidential business information that provides a competitive edge (e.g., the Coca-Cola formula).
Step 3: Final Answer:
A trademark is the specific IPR used for brand identification and distinction.