The term trademark refers to a phrase, word, or symbol that denotes a specific product and legally differentiates it from all other products of its kind. A trademark exclusively identifies a product as belonging to a particular company and recognizes the company's ownership of the brand. Trademarks help you distinguish your products and services from competitors and help identify you as the source. It is a name or symbol that a company uses on its products, and another company cannot legally use that. Startups can build a positive reputation if they have a registered trademark. If a business maintains a good reputation, people are inclined to work with and for them.