Three Quarters Of Brands ‘Had Trademarks Infringed’ Last Year
When setting up a new brand, it’s necessary to use the best commercial contract solicitors available to protect your hard work, especially as trademark and copyright infringement is on the up, according to a new study.
Trademark researchers CompuMark announced there results of new research which aimed to measure trademark infringement on a global scale and discovered that nearly 75 per cent of brands reported trademark infringement in the last year, according to Net Imperative. It also found that 40 per cent of brands believed that trademark infringement levels had increased in the last year.
Jeff Roy, president of CompuMark, described how the easy nature for businesses to operate on a global scale meant that finding a unique trademark is harder than ever: “Brands will have to work harder than ever to combat infringement and mitigate the risks associated with it. As a result, the process of searching and watching trademarks is becoming increasingly important and will remain so into the future,” he said.
The research also found that some trademark practitioners are only use free tools to register trademarks, which don’t have the scope for a truly thorough search.
However, the consequences of trademark infringement can be serious, for both the claimant and the defendant. In the study, brands said their biggest concern was customer confusion, at 44 per cent, followed by loss of revenue at 40 per cent. Customer loyalty and damage to a brand’s reputation is also a large concern, as over 30 per cent of companies said they had to change a brand name because of infringement.
The report found that 56 per cent took legal action against trademark infringement.Tags: commercial contract solicitors