Abstract

Intellectual Property (IP) has been traditionally categorized into Industrial property and Copyright. The term Industrial Property includes patents, trademarks, industrial designs, and geographic indications of source. Copyright protection is granted to protect literary, artistic and musical works. Rights related to copyright include those of performing artists in their performances, producers of phonograms in their recordings, and those of broadcasters in their radio and television program. Intellectual property rights are generally said to be a bundle of exclusive rights granted to the lawful owner. The Word A trademark is described as a symbol that may be visually represented and that can be used to identify one person's goods or services of one person from those of others and may include shape of goods, their packaging and combination of colours . According to Nordberg, it's critical to comprehend not only the distinction between a trademark and a brand, but also their mutually beneficial relationship. The word "well known mark" refers to a more general term that also includes connections created by a trademark, such as goodwill, image, and prestige, while "trademark" is the legal term that designates a distinctive mark or symbol to which an owner can get an exclusive right. Well known mark have the potential of attracting consumers, employees, financiers etc. and could be used to establish long lasting relationships on the market. According to Petrusson A well-known trademark may be seen as an intellectual phenomena that demonstrates a company's capacity to increase value for customers and other stakeholders. Popular brands are becoming more and more valued assets for businesses. They serve mainly as transporters of collected value from enterprises and as vehicles for communication. The story of the famous trademarks begins with the Paris Convention, moves on to the TRIPS Agreement, and ends with the WIPO recommendation. This Paper will give an Bird’s eye view on the Trademarks and wellknown marks and their application in the Intellectual Arena.

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