Most trademarks or trademarks have significant value, sometimes in the billions of dollars. Trademarks protect business success and help prevent consumer confusion. The marks can be lost through a process known as’ genericide. Genericide occurs when the trademark holder does not monitor closely the unauthorized use of the mark. The holder loses the right to the exclusive use of the mark. More often than not, a financial disaster continues. Ironically, products and services with greater risk of genericide brand are those with the greatest popularity and market share. Fortunately, however, there are many weapons to prevent genericide, including selection, a non-distinctive generic name when the product is introduced, monitoring and advertisers employed by using the mark; keep track of how competitors and other use the mark, and think carefully before allowing the brand. Trademark owners must give top priority to the monitoring of intentional actions and neglect of domestic workers, competitors and third parties to prevent tearing and the devastating consequences of genericide.
by
Michael G Walsh
Source: Business Horizons
8 pages.
Date Posted: March 15, 2013. Prod #: BH517-PDF-ENG
Protect your brand against tearing of the solution of the case genericide
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