A Trademark is a form of intellectual property. It is an asset and has monetary value just like any other form of property. A trademark is usually expressed in the form of a word, symbol, or phrase; but it can also be a color, a smell, or sound used to identify a manufacturer’s or seller’s goods so as to indicate their source and distinguish them from all other goods.
Trademark rights may be used to prevent others from using a confusingly similar mark, but not to prevent others from making the same goods or from selling the same goods or services under a clearly different mark. Trademarks used in interstate or foreign commerce may be registered with the U.S. Patent & Trademark Office (15 USC 1127). As long as the mark is used in commerce, trademark registrations can be renewed forever.