TRADE MARKS AND BRANDS ARE KEY ELEMENTS FOR ECONOMIC GROWTH

UK (November 8, 2010) - TRADE MARKS AND BRANDS ARE KEY ELEMENTS OF ECONOMIC GROWTH
Coalition Government must not overlook this fact say ITMA and the British Brands Group

The British Brands Group, together with the Institute of Trade Mark Attorneys (ITMA) today expressed serious concerns that recent speeches and announcements from the Coalition Government and its specialist arm, the Intellectual Property Office (IPO) are overlooking trade marks and brands as key elements and drivers of economic growth.

In David Cameron’s speech in Shoreditch last week, announcing an independent review into how the intellectual property system can drive growth and innovation and how our IP laws can make them fit for the internet age, the whole emphasis was on copyright and patents with trade marks being ignored in any of his, or his Minister Baroness Wilcox’s, comments. This is despite trade marks being hugely valuable and important to the UK economy.

Similarly, a keynote seminar last week on Intellectual Property, Innovation and the UK Economy at the Westminster Legal Policy Forum focused on copyright and patents with only the most passing of nods to trade marks. The question the Group and ITMA has to ask is whether the government, in seeking to drive growth and innovation, is missing a trick?

Maggie Ramage, President of ITMA, said: “The role of trade marks as signs of origin for consumers was rightly recognised but perhaps their more important role as motivators for business to invest in reputation, value creation and responsibility, and as essential ingredients in brands was missed. This suggests trade marks are under-valued, even ignored, in the debate on innovation and stimulating growth in the economy.”

John Noble, Director of the British Brands Group said: “Brands, and the trade marks that underpin them, can be immensely valuable to the companies that own them and to the wider economy. Vodafone is arguably the UK’s most valuable brand, being recently valued at $44billion , and a recent study has shown that investments in branding represents 12% of all intangible investment in the UK economy (comparable to the total investment in scientific R&D). Brand values are grown by companies consistently providing differentiated, value-adding products and services that appeal to consumers, and require high levels of creativity and innovation if they are to remain relevant and to succeed.”

In a joint statement they said “The link between innovation and branding is twofold: brand reputations act as a spur to ongoing innovation in product performance which in turn drives economic growth; and branding supports the take-up of innovation by consumers, providing consumers with the confidence to try out new ways of living and working. Original ideas and new ways of thinking are important but they must be commercialized successfully to generate wealth. That is where trade marks and branding have a significant contribution to make.”

“The Intellectual Property Office has warned against the special pleading of lobbyists, calling for a broader discussion on prosperity and growth. As organisations that provide the voice for trade marks and brands in the UK we certainly have a special interest but are keen to contribute to the wider debate. However trade marks and brands seem not yet to be on the policy radar in terms of generating much needed growth and enhancing the UK’s global competitiveness.”
NOTES FOR EDITORS
1. The Institute of Trade Mark Attorneys (ITMA) was established in 1934 as the professional body representing those persons qualified to act for the owners of trade mark and allied intellectual property rights both nationally and internationally. It now represents the vast majority of UK registered trade mark agents and all UK Trade Mark & Design Litigators. Currently ITMA has approximately 500 practising members; it also extends associate membership to professionals in related fields of law and overseas membership to foreign trade mark attorneys. Its total membership (all classes) is about 1600 members, primarily located in the United Kingdom and Europe, but also in more than 50 other countries. For more information visit www.itma.org.uk.
2. The British Brands Group was founded in 1994 as a membership organization to speak on behalf of brand manufacturers. It seeks to deepen understanding of how brands benefit consumers, society and the economy and represents its members collectively when commercial and regulatory issues threaten the ability of brands to deliver value and to be a positive force in society. It is part of a global network of similar brand associations and is the UK representative of AIM, the European Brands Association, based in Brussels. More information is available at www.britshbrandsgroup.org.uk.
3. Press Enquiries on ITMA to Ken Storey, PR Manager, Tel: 020 8941 6079 or Mobile 07710 434 507 and on the British Brands Group to John Noble, Director, on Tel: 01730 821212.