TM means "trademark" and was once used as a reminder that the trademark has applied for registration but has not yet received the "Trademark Registration Certificate". Such trademarks are unregistered trademarks, have no exclusive rights to trademarks, and are not protected by law.

The circle R is the symbol of "registered trademark", which means that the trademark has been registered by the Trademark Office of the State Administration for Industry and Commerce. The trademark owner holds the "Trademark Registration Certificate" and enjoys the exclusive right to the trademark, and its exclusive right is governed by National legal protection.

If my answer is helpful to you, please accept it, thank you!