Trademark Families: Characteristics and Market Values
Journal of Brand Management, 21(2), pp. 150-170
36 Pages Posted: 22 Jan 2012 Last revised: 22 Feb 2014
Date Written: January 21, 2012
Research has shown that financial markets value trademarks. However, most firms’ trade-mark portfolios are not loose agglomerations of intellectual property (IP) rights. Often, a firm’s trademarks can be decomposed into groups of related trademarks (trademark families). This study identifies different types of trademark families and analyzes their respective effects on the market values of large, publicly listed firms. The results show that financial markets value only those trademarks that develop existing brands, while they do not value the creation of new trademarks. The implications of the results for corporate IP and brand management are discussed.
Keywords: trademarks, trademark families, firm valuation, Tobin’s q, brand management
JEL Classification: M31, O34, G10
Suggested Citation: Suggested Citation