Research gauges industry views on the changing trademark landscape.
Legal professionals and brand owners have put forward their views on the biggest issues facing the trademark industry and brand protection, with more than a third (34%) saying they would be open to new technology in their day-to-day work.
Research carried out by Thomson CompuMark at an industry symposium on brand protection, also revealed that budget, new brand channels, globalisation and technology support are the main challenges to staying ahead in the evolving trademark landscape. 44% of respondents said budget was the biggest challenge and 28% felt that new channels was another critical area.
Social media was cited as having a significant impact on clearing and protecting trademarks. The rate of new marks being launched into the social media sphere has increased substantially in recent years, in terms of both volume and speed, and this has had considerable implications on professionals working in the trademark industry. 61% of those questioned in the research felt that social media is either very or moderately important to their trademark strategy.
When it comes to implementing a comprehensive trademark strategy, brand owners and legal professionals said that the lack of understanding of the broader business (37%) was the greatest challenge, after concerns surrounding budget (39%).
One result from the research showed the impact that infringement has on a brand and the real risks to both revenue and reputation. Almost half (49%) of those questioned about either their own or their client’s brand, said that financial consequences were the biggest impact followed by 32% who cited customer reputation.
Brand protection: level of complexity
Rob Davey (pictured), senior director at Thomson CompuMark, said: “The research is very significant as, even though the sample size was relatively small, it represents the views of those people working at the sharp end of the trademark and brand protection industry.
“The results highlight the level of complexity facing organisations looking to clear, launch and protect their brands and how many are exploring the concept of bringing in new technology to solve their clearance challenges.”
