TRADEMARK Definition

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TRADEMARK is a formally registered symbol identifying the manufacturer or distributor of a product.

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SOLE PROPRIETOR is an individual who owns a business as opposed to stock in a corporation. A sole proprietor pays no corporate income tax but has unlimited liability for his/her business debts and obligations. See SOLE PROPRIERTORSHIP.

REPLACEMENT COST NEW is the current cost of a similar new property having the nearest equivalent utility to the property being valued.

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