BOSTON, MA: March 28, 2017 – CompuMark, the industry leader for trademark research and protection, today released findings around the impact that trademark infringement has on brands, with eight-in-10 (80 percent) of C-level executives saying it is on the rise. Despite this awareness, the research also uncovered that that only one in five respondents (20 percent) have a process in place to actively watch more than 75 percent of their marks, while half admitted to only watching between 26-75 percent.
Conducted by leading market research company Opinium, the survey analyzed the challenges that C-Level executives face, their outlook on trademark infringement and the trademark management process overall.
The research also showed that trademarking is on the rise, as two-thirds (66 percent) of organizations stated they had plans to launch new marks over the next 12 months. In addition, 80 percent of respondents said they would be more likely to launch new brands if trademark clearance were simpler.
“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.
In addition to financial implications of trademark infringement, such as loss of revenue (26 percent), respondents in the survey identified damage to brand reputation (21 percent), customer confusion (21 percent) and reduced customer loyalty and trust (19 percent) as the some of the main consequences.
Other key findings from the research include:
- Ninety-four percent said that they were confident that their company had taken the proper steps to clear a mark across all markets
- Forty-four percent of participants state that better technology would help clear trademarks more quickly and accurately
- More than half of the respondents (53 percent) indicated that their organizations have taken legal action against third parties who had infringed upon their brand, with 34 percent needing to change the name of the brand because of infringement
For the full research report, click here.
The research was carried out on behalf of CompuMark by leading research agency Opinium. The survey was conducted online between August 12 to 22, 2016 on a sample of 440 C-suite respondents in organizations of 10 or more employees. The research covered five countries — U.S. 106; U.K. 104; Italy 59; Spain 59; France 57; Germany 55.
CompuMark provides the industry’s broadest range of trademark research and brand protection solutions. We enable trademark and brand professionals worldwide to launch, expand and protect strong brands through unmatched global content, expert analysis and tools, and best-in-class service.
About Clarivate Analytics
Clarivate Analytics accelerates the pace of innovation by providing trusted insights and analytics to customers around the world, enabling them to discover, protect and commercialize new ideas faster. Formerly the Intellectual Property and Science business of Thomson Reuters, we own and operate a collection of leading subscription-based services focused on scientific and academic research, patent analytics and regulatory standards, pharmaceutical and biotech intelligence, trademark protection, domain brand protection and intellectual property management. Clarivate Analytics is now an independent company with over 4,000 employees, operating in more than 100 countries and owns well‐known brands that include Web of Science, Cortellis, Thomson Innovation, Derwent World Patents Index, CompuMark, MarkMonitor and Techstreet, among others. For more information, visit clarivate.com.