A registered trademark can be a crucial asset to a business. It provides legal protection against fraud and imitation of the product or service under the mark, as well as the ability to act against infringement. Furthermore, it gives businesses an ideal opportunity to bolster their brand recognition and trust among customers by offering them a way to easily identify their products or services. Trademarks also present businesses with tangible assets they can leverage for profit through licensing or selling exclusive rights to utilize the mark in exchange for financial compensation.