Revenue Opportunities Are Missed When The C-suite Doesn’t Pay Attention, Says New Clarivate Report

By STS News Desk On Feb 18, 2021

Revenue Opportunities Are Missed When The C-suite Doesn't Pay Attention, Says New Clarivate Report

Clarivate, a global leader in providing trusted information and insights to accelerate the pace of innovation, released a new report that highlights global insights into the optimization of trademark value, protection and technology.

The latest research from Clarivate reveals that high numbers of professionals report their organization could not pursue trademark-related business opportunities, such as licensing or moving into global markets and partnerships, because top level management was not engaged. 89% of respondents report that opportunities missed for this reason led their organizations to miss a revenue opportunity (34%) or rights (30%). Others say they were unable to move into new markets or strike lucrative licensing deals. A third (33%) says the absence of the C-suite adversely affected partnerships. 20% of the total respondent say the boardroom is not involved at all in trademark matters.

The consequences of trademark infringement
In 2020, almost nine in ten (89%) brands experienced trademark infringement, showing a steady upward trend from 85% in 2019, 81% in 2018 and 74% in 2017. For those that suffered infringement, consequences were significant and over half (56%) of all respondents stated it led them to having to change a brand name. This rose to 88% in Japan, causing a remarkable increase in expenses. Six out of ten trademark professionals reported that they spent more on dealing with infringement over the past year than in 2019.

The research further shows that trademark infringement frequently includes:

Business name (51%)
Web domains (49%)
Social media (50%)
Online marketplaces (27%)
Advertising campaigns (36%)

Trademark filings still on the rise
In parallel with the rise in infringement, the number of trademarks filed is increasing with 57% of brands filing more in the last 12 months than they did in 2019 (48%). Image marks and industrial design applications also increased over the last year. Two thirds of respondents (66%) said they experienced an increase in applications for image marks over the last 12 months. This is up significantly from 56% last year and 82% of trademark professionals said they included industrial design filings as part of their overall filing strategy in 2020, compared with 78% in 2019(Clarivate ).

Despite the hit to the global economy inflicted by the pandemic in 2020, the volume of new trademark filings rose last year. Trademark applications increased, especially in the Asia-Pacific region¹, with Mainland China reported to be 20% ahead of 2019, South Korea 19% ahead, and India by 13%². The U.K. saw filing volume increase by 31% over 2019 while the European Union Intellectual Property Office (EUIPO) saw an increase of 14% and Germany was up by 14%.

However, the fastest growing trademark register in the world in 2020 was the United States³, where filing volume increased by an unprecedented 35% over 2019. Increased trademark filing is leading to increased difficulties with trademark protection with 67% of respondents making this claim.

Write in to psen@itechseries.com to learn more about our exclusive editorial packages and programs.