Trade mark and business reputation as important resources in companies have been two easily confused concepts. The confusion not only covers the source of business to obtain excess returns, but also leads to market perception of corporate value and the accounting records are often distorted. After the introduction of new accounting standards, business reputation has been separated from the intangible assets and established independent economic status in the balance sheet, the situation has been improved. However, compare with the tangible assets evaluation, people's awareness of intangible assets has yet to be deepened, and assessment methods should be improved. In this paper, according to the analysis on the basic meaning of trade mark and business reputation, these two important intangible resources in companies, make a clear view of difference and connection between these two concepts that have characteristics of both the similarities, there are phenomena and the nature, content and other contact with the extension. At the same time, both in the initial definition of the nature of content, research background and theoretical basis, the highlight of the value, legal protection and compensation measures these four aspects, there is a clear difference.