What is a trademark?

A trademark is fundamentally a distinct name, logo, symbol, or other identifiers that legally distinguish a product from others in the market. It serves to safeguard the brand identity and inform consumers about the origin of the goods they are purchasing. Trademark law helps prevent confusion among consumers regarding the source of products, thereby promoting fair competition.

In contrast, the other options describe different legal and marketing concepts. For example, a legal document that grants sole rights to an invention refers to a patent, which protects inventions and processes for a limited time. A marketing strategy aimed at targeting all consumers equally does not accurately define a trademark but rather describes a broad marketing approach. Lastly, an agreement between companies to share products might refer to licensing or distribution agreements rather than a trademark itself. Overall, the distinctiveness and legal recognition of a trademark are crucial in protecting brand identity and consumer recognition in the business landscape.