Trademark is basically a sign, symbol, name or mark used to characterize the goods of one manufacturer or trader from that of others. The laws pertaining to trademark were very lenient prior to 1940. But with the emergence of science, technology and industry the concept of trademark achieved great heights, thus it became extremely essential to safeguard the rights conferred by trademarks. In 1940 with the passing of Indian trademarks act conditions concerning trademarks improved considerably and registered proprietors started to realize the importance of trademarks. Trademark is basically a property which is bound to be protected irrespective of its value in money as long as it has some business or commercial value. A trademark is a mark which is used or proposed to be used in relation to a particular class of goods or services and which avoids confusion from the minds of the consumer/customer who acquires such goods or services from the national or international market.
Trademark offers a lot of essential services such as, it protect the mark of the registered manufacturer or trader from being infringed. It differentiates the goods and services of one person from that of the other. It gives monopoly to the registered user. It helps to avoid confusion from the minds of the customers, it confers legal right on the proprietor to claim damages or compensation in case the trademark gets violated. It protects the goodwill and reputation of those traders and manufacturers who are not selling there products in a particular country but wishes to protect the status acquired through trade carried out in various countries. Trademark law does not allow transfer of trademark without the transfer of goodwill or business.