Leadership

Managers Value Brands, Have No Time to Protect Them

By Jessica Stillman

Updated on: May 12, 2009 / 7:57 AM EDT / MoneyWatch

The Find: Brand protection is more important than ever during a recession, managers agree, yet only 20 percent are finding more time to devote to safeguarding their brand.
The Source: A survey from UK intellectual property firm Marks & Clerk.

The Find: When Marks & Clerk talked to more than 200 businesses about their views on brand protection, a full 84 percent of managers agreed that safeguarding your brand's reputation is even more important during a recession and can help a company weather tough times. A whopping 95 percent also agreed that counterfeit goods will be more in demand in the current economic climate. Yet, strangely, only 20 percent are spending more time looking after their brands, stating they are "too busy" to bother.

According to Pam Withers, a partner at Marks & Clerk, the survey results point out that many companies are tackling brand protection the wrong way, wasting effort. She says,

A strong or dominant brand can give a business... long-term resilience and a greater ability to weather the storm as consumers fly to quality. Businesses recognize this truth, hence their reaction in lodging more oppositions to trade mark applications at the European level and dissatisfaction with the protection their brands may have in overseas territories. However, businesses need to take more responsibility themselves. Too many are only focusing on brand protection when their business comes under direct attack from competitors or counterfeiters. The costs of effective brand protection and monitoring are relatively low and far outweighed by the financial headaches brand dilution or infringement will bring a business down the line.

In summary, a little effort in brand monitoring and management, can save a lot of headaches (and money) down the road.

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