Trademark infringement on the rise

Research conducted by Opinium on behalf of CompuMark, has found that eighty per cent of C-level executives say trademark infringement is on the rise but only 20 per cent have a process in place to actively watch more than three quarters of their marks.

However, the vast majority (94%) said they were confident that their company had taken the proper steps to clear a mark across all markets. More than half of the respondents (53%) indicated that their organisations had taken legal action against third parties who had infringed upon their brand, with 34 per cent needing to change the name of the brand because of infringement. In addition to financial implications of trademark infringement, such as loss of revenue (26%), respondents in the survey identified damage to brand reputation (21%), customer confusion (21%) and reduced customer loyalty and trust (19%) as the some of the main consequences.

Trademarking on the rise

The research also showed that trademarking is on the rise, as two-thirds (66%) of organisations stated they had plans to launch new marks over the next 12 months. In addition, 80 per cent of respondents said they would be more likely to launch new brands if trademark clearance were simpler with 44 per cent stating that better technology would help clear trademarks more quickly and accurately.

 

Read more about this research here.