Insight: CompuMark- 43% of trademark professionals identify Brexit as major challenge
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Unsurprisingly Brexit was high on the agenda at a recent industry symposium, with 43% of trademark and brand professionals from global brands stating preparations to depart the EU will be one of their biggest challenges in 2017. This is according to research carried out by CompuMark, the industry leader for trademark research and protection.
As a result of Brexit, trademark filing strategies have also changed, with almost half of respondents (49%) stating they are filing more UK trademarks.
Attendees at the symposium were polled on their views on the trademark landscape, the changes taking place and the challenges they face. In addition to Brexit preparations, other challenges included being tasked with doing more with fewer resources (33%), doing more electronically and on mobile devices (15%) and getting to market faster (10%).
“Industry events such as these are an excellent way to gauge the state of the industry, potential barriers and new trends that are emerging. The results do reflect first-hand the opinions and experiences of professionals in the market,” says Rob Davey, Senior Director, CompuMark, a brand of Clarivate Analytics.
Trademark infringement is still a pressing concern among professionals — almost half of respondents (49%) stated that the biggest impact of infringement is on reputation, followed by financial implications (24%). This is contradictory to last year’s findings where financial impact was identified as the biggest issue (49%), followed by reputation (32%).
“Following the survey, it’s become clear that trademarking remains a complex but essential function that brands must take seriously and incorporate in wider brand protection strategies. This is particularly true given the increased use of technology, and rise of social media and its influence on the trademark sphere.”
The trademarking of hashtags also made it into discussions, with 21% stating they were applying for these types of trademarks, and 59% saying they may do so in the future. When asked about technology, the majority of respondents (68%), having identified the increasing need to complete tasks electronically, said they work both on paper and online. 22% indicated they performed all day-to-day tasks online.
The symposium took place in London in May 2017, with an audience of over 200 attending.
