Stand by Your Brand


As the Great Recession persists, business and consumers alike are shifting their focus from coping with the initial shock of the downturn, to figuring out how to weather the uncertain duration of this economic crisis. It is a time when short-term thinking about trademark strategy can have a very dangerous long-term impact.

During a recession, it is common for companies to respond by hibernating and cutting brand building out of their budget. Many companies, in times of recession, have the misconception that consumers buy what is cheap regardless of brand or quality. As a result, many companies make a number of critical errors as they try to retain market share during the recession: they discount their products and move to down-scale retail establishments; they slash or even cease promotional efforts; they abandon protection efforts and give up on enforcement. The reasoning that underlies these decisions is not only wrong but detrimental to a company's long-term economic health.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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