A trademark, one of the most important Intellectual property incorporates any word, name, image, or any mix, used , or expected to be used, in business to recognize the products of one producer or dealer from merchandise fabricated or sold by others and to show the wellspring of the products. It is an imprint or image which is fit for recognizing the products or administrations of one from those of others.
A trademark can be described as an information umbrella that contributes to resolving information asymmetry and remedying market failure through safeguarding the quality of market information. It not only prevents confusion, but also prevents unauthorised misappropriation while protecting the goodwill of a business.
It continues with the business even after the life of owner of trademark. And such trademarks gets inherited to the family of the owner of trademark.