A trademark is a distinctive sign, symbol, word, or phrase that identifies and distinguishes goods or services from competitors, protecting brand identity and preventing consumer confusion while giving owners exclusive commercial rights. Trademarks include brand names, logos, slogans, colors, sounds, and distinctive packaging, and while federal registration isn't required, it provides stronger legal protection, nationwide rights, and enforcement capabilities. With proper use and periodic renewals, trademarks can last indefinitely, offering benefits like legal protection, enhanced brand recognition, licensing opportunities, and the ability to stop infringement through courts, making them essential assets for businesses seeking to establish and maintain their market presence