The colour of a product, its packaging or the material used to promote it is often a crucial way of distinguishing the goods and services of one trader from those of another. The use of colour in a product or its packaging is widely recognised as being crucial to building a brand image and marketing and advertising agencies agonise long and hard when deciding which colour, or shade accurately reflect the brand values. (source)

But people are taking color trademarks the wrong way, and there is outrage on the web.
There's even a fun "Free Magenta" site that has been created in opposition to this demand for exclusivity. My question is, are they for real, or is this merely a parody?
What people need to understand is that a color can be trademarked for branding purposes, but only within the scope of its specific industry niche. This actually isn't all that revolutionary.

I really want to squelch these common misconceptions that spread like wildfires online.