In recent years, more determinant factors exist in the management of an international brand trademark portfolio. Thanks to the globalization of trade, businesses with foreign presence require added layers of conditions, regardless of size.
Managing the various trademarks in the brand’s portfolio is one condition that managers have to satisfy to ensure a healthy business operation abroad. The immediate challenge is the complexity of the different approaches necessary for asset and trademark portfolio management. It can overwhelm when managers try to unify their strategies.
The critical question is, “where to begin?” The article below highlights seven useful tips to help international businesses in managing a global trademark portfolio.
- Understanding the Basics of Trademark Needs
One of the keys to effective trademark management is starting from the beginning of the brand’s life. You have to figure out a trademark’s needs even before setting sights on the “bigger picture.”
For instance, when launching the brand in a given country, the managers would identify the appropriate time and place to carry out trademark filings. In such a case, you need to understand the broader impact on business, as trademarks need to be strictly specific. Poorly-defined trademarks leave global brands running the risk of filing their trademarks in the wrong class or missing a country altogether.
- Invest in Trademark Strategies
Moving on from understanding its trademark needs, the brand should set up a strategy for the long-term. An effective trademark strategy would specify, in clear terms, the goals and objectives of the brand’s trademarks. It has the extended effect of helping managers to identify the areas where their brand products need trademark protection.
You can utilize an approach to set trademark strategies and trade volume within a given country. It would help if brands categorized their trademark needs into primary and secondary classes. It makes the trademark filing process more streamlined, starting from trademarks that the brand must have to those it would like to have.
- Have a Reliable Agent Network
Trademark portfolio management for an international brand requires a complication of several regulations and logistics according to the states in which it operates. It is a complicated procedure to manage, which makes having a local agent network expedient.
A reliable agent network handling the global brand’s office action responses allows it to focus on trademark portfolio management, transcending language, and local law barriers across the various countries.
