Principles of Marketing

Trademark

Distinctive design, graphics, logo, symbols, words, or any combination thereof that uniquely identifies a firm and or its goods or services, guarantees the item's genuineness, and gives it owner the legal rights to prevent the trademark's unauthorized use. 

A trademark must be:

(1) distinctive instead of descriptive

(2) affixed to the item sold, and

(3) registered with the appropriate authority 

....to obtain legal ownership and protection rights. Trademark rights are granted usually for 7 to 20 years and, unlike in case of patents, are renewable indefinitely. These rights are protected worldwide by international intellectual property treaties and may be assigned by their owner to other parties. Although a trademark has no limited term of existence, the rights to use it may be lost due to misuse or lack of use. Trademarks are divided into 42 international classes, each class representing similar goods or services. Whereas a trademark may be registered under multiple classes, it is protected only in the class(es) relevant to the business or trade area of the item. And, whereas the use of symbol 'TM' does not provide any legal benefit, it precludes the infringer's defense of lack of knowledge of a trademark claim. Costs incurred in design and registration of, and in defending, a trademark are usually amortized over the life the trademark or 40 years, whichever is shorter. In balance sheets, trademarks are identified as intangible assets and, in some cases such as Pepsi Co., are far more valuable than the firm's all other assets. The term trademark includes the associated term service mark (SM).

Logo

A logo is an element which is the most important one to mirror the identity of a company or the service that is provided. The logo efficiency is based on the principles of making a logo. There are 5 principles in designing a good logo and it is simplicity, versatile, memorable, timeless and appropriate.

1. Simple

Less is more. Logos that are overdrawn or too ornate are generally inflexible and have limited versatility.  Keeping a logo simple it enhances its “stickiness” and keeps it from being perceived as busy. Creating a unique concept and striping it down to the most basic level it can be while retaining its impact.

2. Memorable

In order for a logo to be memorable or have a “sticky” factor, it needs to be both simple and relevant or appropriate to the audience. The design should be simple enough to easily recall and convey imagery or typography that resonates with the target audience.

3. Timeless

For the business to stand the test of time; the brand needs to be just as timeless. A great logo will still be great 10-20 years from now. Re-branding should not be considered a normal part of business nor should it become a habit. Longevity is what should strive for. Creating a timeless logo, avoid trends, avoid unnecessary effects and keep it simple.

4. Versatile/Flexible

Will the logo work in one color or against a dark background? An effective logo works across various media and within different contexts. To ensure flexibility, starting by creating a logo in black and white. Using a vector format will enable the logo to scale to various sizes without losing quality.

5. Relevant & Appropriate

Understanding the target audience or consumer is an integral component of creating an effect logo design. Knowing what is appropriate for audience will dictate what font style used, the colors and any accompanying imagery. Designing the same logo for a toy company as would an automotive parts store.

reference:

Khan, A. (2014) Linkedin: 5 principles of effective logo design. [Online] Available on: https://www.linkedin.com/pulse/5-principles-effective-logo-design-asif-khan  [Accessed on:18 August 2015 ]

(2013) Business dictionary: trademark. [Online] Available on: http://www.businessdictionary.com/definition/trademark.html [Accessed on: 1 September]