What’s in a name? Know the value of your IP

On December 8th, an auction of inactive trade marks took place in New York.  According to NPR’s Marketplace:

Michael Reich owns Brands USA Holdings, the company selling the trademarks. He says old brand names can be used to sell new products, anchor a website or tap into the growing market for kitsch, you know, T-shirts and tchotchkes with vintage logos.

You can read or listen to the story at:

http://marketplace.publicradio.org/display/web/2010/12/08/pm-whats-in-a-name/

These marks are often referred to as “zombie brands”.  They are inactive – think Circuit City, Sharper Image and Brim (as in “Fill it to the rim – with Brim”). Marketers who recognize the inherent value are breathing new life into these, and other storied brand names.

You can read more on Businessweek.com “Imation Brings Dead Brands Back to Life

What is remarkable is that:

Memorex dropped its signature TV ads, with their “Is it live or is it Memorex?” tagline, more than 30 years ago. And yet…research surveys showed that 95% of U.S. consumers knew the name, even among people in their 30s.

The message is simple:  know the value of your IP, whether it be patents, trade marks – or brand names.

Post written by Peter Bloch

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