service mark investment & finance definition

A word, name, symbol, or device that is used when selling goods to indicate the source of the goods and to distinguish them from the goods of others. A service mark gives protection to the owner of a service, while a trademark gives protection to the owner of a product. Occasionally trademark is used interchangeably with service mark. The value of a service mark must be amortized over its reasonable life, which can’t be more than 40 years.