Which of the following is true of trademarks?
A)A successful trademark is one that becomes a generic name for a product, for example, "Xerox" has become a generic term for making photocopies.
B)A successful trademark is one that allows consumers to immediately identify the source or producer of the product.
C)If a firm is granted a trademark, then no other firms can legally produce similar products for a given period of time.
D)If a firm is granted a trademark, then no other firms can legally sell in the same geographic area for a given period of time.

Question

Quizplus · Accepted Answer

A successful trademark is one that allows consumers to immediately identify the source or producer of the product. While becoming a generic name for a product may seem like a sign of success, it can actually lead to losing trademark protection. Trademarks do not give a firm a monopoly on the product itself, but rather on the use of the trademark in commerce. Therefore, other firms can legally produce similar products as long as they do not use the same trademark. Trademark protection also does not restrict other firms from selling in the same geographic area, only from using the protected trademark.

Which of the Following Is True of Trademarks