Patent - Protects for the invention of a product, idea, or formula, and forbids others from reproducing, using, and selling it for a period of time. They are broken down into three categories. Respectively, utility and design patents protect the functional and ornamental aspects of new inventions. Plant patents are given to breeders of new plant life.
Trademark - Provides protection for a name, logo, or any other type of design that identifies a company's products or services. This is a means of differentiating brands from their primary competitors. Trademark owners get exclusive rights, the ability to license branding, and the ability to pursue litigation for infringement.
Patent or Trademark - Any company that creates a new functional device should get a patent to keep other companies from manufacturing the product, and should get a trademark to protect the branding under which it is sold.