Brand rights are brand assets
The value the customer experiences by purchasing the product or service determines the price set for such product or service. The customer is willing to pay a price corresponding to the perceived value. The brand, on the other hand, is the communication of this value to the customer. A brand consists of various elements, such as words, patterns, their combinations, slogans, the appearance of products and packaging, colours, sounds, music, scents, etc. Exclusive rights to these brand elements can be acquired by registering brand rights.
Brand rights include the company's official names, i.e. trade names and auxiliary trade names; product and service identifiers, i.e. trademarks; website addresses, i.e. domain names; designs of products or packaging, i.e. design rights; and content, i.e. copyright.
The value of brand rights comes from the addition they give to the price. The higher the additional price generated by the brand elements is and the weaker they are protected by brand rights, the more they attract and enable competitors to profit by imitating or directly copying these brand elements.
Brand right strategy means systematic care of brand rights
A brand right strategy is a purposeful and customized plan for managing the company's brand rights based on the company's resources. It is part of the company's brand strategy and develops along with it. To put it simply, a brand right strategy means the systematic management of brand rights, where all individual measures related to the protection, enforcement, maintenance, development, use and utilization of brand rights are based on a prepared strategy.
With a brand rights strategy, decisions related to the company's brand rights, for example new registration applications, are converted from individual and isolated actions to systematic and strategic decisions supporting the long-term goals.
A brand right strategy is needed to increase the brand value
Every brand owner needs at least a basic level brand right strategy. For a large part of companies, brand rights form a significant part of their value and are thus a strategic asset of the company. Such companies need a more comprehensive brand right strategy.
The amount of brand rights also typically increases as the company's operations continue and grow. Some brand rights may lose their importance over time. Adding or abandoning brand rights should also be based on strategic decisions. Successful and efficient management of brand rights and increasing the value are based on a prepared brand right strategy, which is implemented through practical measures based on it.
The brand right strategy answers the questions of how the company's brand rights are
- maintained, and
With a brand rights strategy, the company ensures that exclusive rights to the most commercially valuable brand elements are acquired now and in the future, their infringements are monitored and they are used in the right way to maintain and strengthen the protection. With the help of the brand right strategy, a company knows how to act when creating new brand elements to ensure their registrability or at least their usability, i.e., freedom to operate. All individual measures based on the brand right strategy are optimized from the point of view of benefit within the limits of the company's available resources. All measures are consistent, systematic, support each other and are properly targeted. All this increases the value of the company's brand elements and thereby the brand to the maximum, taking into account the company's resources.
Brand rights to flourish
Brand rights and managing them strategically and business-oriented are Kaulo & Partners' strong expertise.
We help companies draft brand rights strategies and implement them into practical actions. The brand right strategy is prepared in practical workshops in cooperation with the company's management, which sessions also serve as training.
Once the brand rights strategy has been drawn up, we are best able to help the company in the cost-effective and value-adding management of brand rights, regardless of whether it concerns creating new brand rights, protecting them, using them correctly, utilizing them in commercial contracts, enforcing them or regularly auditing them.
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