When you think of the most valuable brands in the world, it may not be surprising that you think of a tech company. According to the market research firm Millard Brown, Google is the most valuable brand. The tech giant’s name recognition is worth an estimated $158.8 billion. Also significant is the fact that Google has leapfrogged Apple for the top spot. It is estimated that the value of Apple’s brand has fallen 20 percent.
The other companies at the top of the brand value list include IBM and Microsoft.
The list is an example of the value of a company’s brand, and how important it is to protect it.
In essence, public perception in the reliability and expectations of a product is just as valuable as the name of the product. It is these things that separate a name brand from a generic, and go very far in creating public trust.
In our last post we highlighted the case of a tech company using the legal system to protect the integrity of an Internet router from an unruly customer. Indeed, genuine and accurate criticism of a product is part of the beauty of the marketplace. However, when malicious attacks threaten the value of a brand, legal action is necessary to ensure the public’s trust in a brand.
With that said, it is important for businesses to take steps to protect their brands in the marketplace from unscrupulous consumers and copycat businesses alike. An experienced business law attorney can help in devising a solid litigation strategy as well as other safeguards to protect a brand.
Source: LA Times.com “Google named world’s most valuable brand, pushing Apple to no.2,” Amy Hubbard, May 21, 2014