Branding: From a commercial perspective

Abstract

Ask someone to distinguish a trade mark from a brand and there may be a problem; for some, the two are synonymous. To others, while they may know what a brand is, they may find it hard to define one. This paper explains brands and looks at the similarities and differences they have with trade marks. It explores the reasons why companies are prepared to spend large fortunes building — and then protecting — their brands and the benfits that can accrue as a result, to both the company and its customers, when things go well. When brands come under attack, intellectual property rights, one might think, are ideally suited to protect them but it is clear they are not fully up to the task and brand owners must seek protection from a patchwork of disparate laws, some of which are ill-suited to the purpose. The paper concludes with a look at the wider social and economic contribution of brands and questions how well they are really understood.