How has the brand as intellectual property led to business globalization?

Introduction

Globalization is referred to as a set of profound material changes that impact relationships between societies in recent decades. Identifiable features of these material changes are seen in the development and growth of the web, satellite transmission, fiber optic technology, broadband operations, transnational corporations, and the rise of the World Trade Organization.

Globalization is the transformation of how ideas travel and the nature of their final destination, leading to an increase in international trade and thus increased competition. Companies expand by penetrating established markets to create new markets for their products. This requires that they have identity for themselves by establishing trademarks through the brand and continuing to manage to create value. While expanding and penetrating new markets; Developing, promoting and marketing using different trademarks for different countries become more expensive. The more a brand is known in countries, the greater its value and the greater the need to protect it by registering it globally. Trademark registration implies not only higher costs, but also procedural restrictions when registering in all countries.

Trademarks have become part of not only an economic market, but also a metaphorical market, because they involve and propagate a system of using signs to control meaning and language, since trademarks fulfill several different economic functions.

Identification: At a basic level, it serves an identification function by associating a product with a company.

Communication: More abstractly, it has an informative function, since it provides a vehicle for the efficient communication of information, thus reducing the consumer’s search costs to choose a product. Signaling: The use of the brand in advertising also serves a signaling function, as it suggests that a company that is willing to spend a substantial sum on its advertising must have developed a good product. Expression: Finally, the brand also fulfills an expressive function, in the sense that it links a particular identity or essence of the consumer with a product.

Mega-branding strategy

Branding involves not just the product name, advertisements, or use of a logo, but also the fundamental assumptions and beliefs that are evoked when one thinks about the brand. The best brands were those that could generate a certain psychological feeling about the product. Thus, the “brand essence” moves away from a focus on the product and towards a psychological association of the brand with a certain identity. Today, companies undertake a “mega-brand” strategy, in which companies spend a substantial portion of their revenue placing their logo on a variety of different products and events, further amplifying the link between the psychological association , cultural and corporate. In this way, manufacturers control both supply and demand by manipulating consumer trends through skillful brand promotion.

Brand Plan – A Valuable Management Tool

The brand plan is a crucial step in charting a business path to success. A good brand plan provides an overview of where the brand is, how it plans to position or reposition itself, and how it seeks to achieve its business goals. A well-prepared and regularly updated brand plan is a valuable management tool that serves a variety of purposes. It helps to examine the feasibility of bringing a brand idea to market. A written brand plan forces a company to think about all the key issues, such as potential demand, the nature of competition, barriers to entry, the unique selling proposition, key employees, relevant technologies, and strategic partners. , fundraising, projected start. increase costs, and the like.

A brand plan is a reference document that provides management with an objective basis for determining whether the brand is on track to meet its goals and objectives with available resources in a set period of time. Innovation is very important and fundamental for the future of brands. Context, leadership and core values ​​of brands are the drivers of innovation. One must address “What is the current state of the brand? What threats to survival might exist?”, “What is it that leadership is passionate about? What drives choices, decisions and behavior in the organization?” How innovation and creativity enhance the brand How can this be strengthened to be considered as a global brand Customer analysis and brainstorming help generate ideas for innovation Internal sources and customers are the best sources of ideas.

The World Intellectual Property Organization (WIPO) has initiated and promoted the Madrid Protocol, which establishes a system for the international registration of trademarks to reduce this cost due to multiple registrations in different countries. This protocol is called Intellectual Property Rights. Intellectual property rights cover patents, trademarks, industrial designs, copyright and related rights, geographical indications and trade secrets, and undisclosed information. Brands have become more than just a means to protect market share. They have become an invaluable tool for claiming and creating markets. From being just a brand, they become trusted brands as brands. According to author and journalist Naomi Klein, “a world of branding in which the logo is a common language understood by all” leads to a change in corporate marketing strategies: from promoting basic products based on market needs, to promoting a brand to represent a lifestyle creates needs in the market. The branding strategy makes the commercial brand and the sociocultural identities associated with the brand include the product itself.

Intellectual property in a brand plan becomes critical as the business incubator or investor must understand and accept the consistency of the brand idea, including its protection. New or original knowledge and/or creative expression of ideas, protected by the intellectual property (IP) system, underpin your competitive advantage and success. Therefore, a brand plan must convincingly reflect how the company plans to protect, manage, and leverage its intellectual property assets for brand success. Trademark patents provide exclusivity for the commercialization of inventions and often play a crucial role in convincing investors or lenders. One or more patents along with industrial design registrations are reflected as evidence of the trademark’s ability to deter competitors using original or aesthetically appealing trademark features. Therefore, a brand plan should integrate intellectual property and reflect the steps that are planned to effectively develop, register, and use intangible assets to gain and retain market share from competitors.

When integrating IP, one must also consider the operational elements that make the brand innovative, such as challenge, customer focus, creativity, communication, collaboration, completion, and contemplation.

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The possibility of inadvertently infringing a third party’s intellectual property rights is high in high-tech industries. Confidential information, such as production details, inventions, and technical, financial, and marketing knowledge, is often the source of competitive advantage. Intellectual property can be a very valuable asset. Managing and assigning a value on the brand’s balance sheet will make it more attractive to potential investors. The more the position in the market is exploited, the greater the value of the property will be when licensing it or selling the brand.

Conclusion

Managing Intellectual Property is an arduous task to approach investors and consider market opportunities for the brand. Since Intellectual Property provides the brand with competitive advantages and increases its value, it is necessary to let investors know that IP is integrated with the brand plan. The reference to the assets of the brand and its market opportunities should list both tangible and intangible assets, since the latter are often the key to the success of the brand. The growing emphasis on branding has been accompanied by a massive expansion of proprietary rights in trade symbols. In the past, the main emphasis of the law has been on protecting a trademark to avoid the danger of confusion among consumers or piracy between products using similar trademarks. However, today, the focus has shifted to trademark protection. In other words, to protect their trademarks used in advertisements and logos, companies turn to trademark law and copyright law. According to Trademarks, 1999, the term brand includes a device, mark, header, label, ticket, name signature, word, letter, or number, or any combination thereof. The new Trademark Law of 1999 has made far-reaching changes to the law taking into account the liberalization and globalization of the economy. They particularly include the following:

A. Registration of Service Marks

b. Collective marks provided

against Two parts A and B abolished

d. Well-known trademarks protected even if they are not registered

my. The shape of words can also be recorded.

Therefore, copyright law should be a key part of all aspects of a good brand plan.

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