18:49
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LSDefine
Simple English definitions for legal terms
private brand
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A quick definition of private brand:
A private brand is a special name or symbol that a company uses to identify its products or services and make them stand out from other companies' products or services. It's like a secret code that only that company uses. Sometimes, a company will put its private brand on products that it didn't actually make, but that it has permission to sell under its own name. This means that the company is responsible for making sure the products are good quality and that no one else can use the same name or symbol.
A more thorough explanation:
A private brand is a type of brand that is owned and marketed by a retailer or distributor rather than the manufacturer. It is an identification mark placed on goods made by someone else under license or other arrangement and marketed as one's own. The seller of private-brand goods sponsors those goods in the market, becomes responsible for their quality, and has rights to prevent others from using the same mark.
- Kirkland Signature by Costco
- Great Value by Walmart
- AmazonBasics by Amazon
These examples illustrate how retailers create their own private brands to offer customers a cheaper alternative to name-brand products. Private brands are often manufactured by the same companies that produce the name-brand products, but with different packaging and branding. By creating their own private brands, retailers can control the quality and pricing of the products they sell, and differentiate themselves from their competitors.