How long is the term of protection of trademarks?
According to the TRIPS Agreement, trademarks must be protected for a term of at least seven years, with a typical registration term of 10 years that can be renewed indefinitely. Unlike patents, which are non-renewable, trademarks are renewable. Trademarks are essentially business symbols that derive their value from the goodwill associated with their use in commerce. If trademarks were not renewable, their owners would lose their substantial investment once the term of protection expired, and consumers would be deprived of the familiar brands they previously purchased. On the other hand, patents are an intellectual accomplishment that stems from an inventor's creativity, and their solutions to a technical problem are often limited. Endlessly renewable patents would give the right holder an indefinite monopoly on a particular technology, which could impede scientific and technological advancement and harm the public interest.