Brands valued...or, what's Woolworths worth?
Published 11.05.09 at 09:59
There's a lot of confusion around branding. People think about those wonderful logos that we all know (and love and hate in equal parts); for example, the Nike swoosh; McDonald's golden arches; Macintosh's half-eaten apple. Grappling with how to protect a mark is relatively straightforward, especially if you know a good trade mark attorney... but that's not the point.
The value of a brand lies far deeper than a logo. It's about the relationship that your audience have with your product or service – the connections they make, the way they feel about your stuff. It's about what sets you apart from your competition: Paul Smith perfectly encapsulates his brand with one very small statement –'Classic with a twist' – a statement that defines his entire company.
A good brand doesn't die. A good brand can outlive a company.
American company River West have built a business around buying dormant brands; arguing that it's cheaper to launch new products using an old brand than people recognise. And as we've just seen, rumours of Woolworth's demise have been greatly exaggerated – as the brand rises from its High Street ashes to be re-born as an online retailer.
So what is a brand worth, what steps should you take to ensure that your brand's IP is protected, and how can you make your brand work for you?
These videos are from an Own-it event that sought to answer these questions and many more. Chaired by Warren Bramley of four23, speakers include John Burns of Halliwells law firm, Sally Moses, a consultant at The Value Engineers and Ralph Ardil, CEO of The Brand Experience Consultancy.
Please note that these videos discuss the legal position in the UK at the time of publication. They provide general information only and are not to be regarded as legal advice. You must take advice from a specialist lawyer in relation to your specific circumstances. Further, you should seek additional legal advice when dealing with parties based in other parts of the world or works originating from other parts of the world as the legal position may vary.
Photo credit: Kevin Dooley