Study finds trademark infringement increasing
According to the data 8 in 10 C-level executives say they believe trademark infringement is on the rise, but only about 20% say their business is actively watching the bulk of their trademarks. Researchers also found that most (66%) plan to launch a new trademark in the next year.
“The number of trademarks being filed is increasing exponentially and will, no doubt, continue to do so. This fact, coupled with the sheer number of trademarks that are already in the market place means that it is getting more and more difficult for brands to clear and register unique marks, while properly protecting those they have registered. This highlights the need for greater protection and, as a result, makes it imperative for organizations across the globe to develop and enforce a comprehensive strategy that helps them secure their biggest assets — their brands,” said Anil Gupta, CMO of CompuMark.
About half of those surveyed say their business has taken legal action against trademark infringers.
Other interesting findings from the report include:
• 80% say they would launch more trademarks if the process were simpler
• 94% report their company ‘has taken the proper steps’ clear trademarks in all markets
• 44% believe better tech would help to clear trademarks more easily
As to the costs associated with trademark infringement, executives believe the biggest cost is in loss of revenue (26%), but 21% believe trademark infringement also damages brand reputation.
