The Three Trademark Ghosts: Why Brands Spend and Yet Stand to Lose?
Just in 2020, the world’s largest retailer, Amazon reportedly spent roughly $22 billion on marketing. In case you are wondering why such a big brand is spending so much money on promoting its brands and products, the result in its upward movement from the 4th most valuable brand in the world to the 2nd spot (estimated value at $254.2 billion from $135.4 billion in 2020) justifies the costs.
This is the free and open trade secret – big brands know the investment in brand promotion and protection is really worth the cost. Consequently, there is a huge IP portfolio with countless moving parts that need to be managed.
Like many other international companies, it is not unlikely to find a central Brands Unit or IP Management System or law firm that handles the protection of the company’s large IP Portfolio.
But then, what can possibly go wrong if a product or design or invention is introduced into a market in Africa without an adequate brand protection strategy and an actionable plan?
The following are what I term “Trademark Ghosts” because of their clandestine operations to sabotage the goodwill and reputation of a business…