6 tips for protecting and growing new brands
HO would have thought that a 17- year- old girl would spark a generation of Filipino stars on Broadway and the West End? That was what Lea Salonga did when she got the role of Kim in Miss Saigon 27 years ago.
Lately, we have Filipinos winning reality talent shows all over the world and bagging plum roles in rock bands and sensational roles through YouTube and other social media networks.
For Lea and the constellation of Filipino stars that followed, a valuable brand— or to use a much broader term, brand intel through a successful audition, excellence in sports, creation of a or a new television format.
Not only are literary and artistic and athletic achievements the - cial endeavors, like a successful restaurant business, are usually
We have several restaurants that have been around for years like Max’s, Jollibee and even the relatively new Mang Inasal. Their critical and commercial success meant that they are harboring
MAI SIGUE BISNAR
hand-me-down trade secrets or Restaurateurs and other business owners should be granted rights on their trademarks, secret recipes and related trade secrets the same way that Salonga and other Filipino artists are granted copyrights on their creations.
In all cases, the brand represents intangible value above and beyond a singular product or service.
Now, imagine this: you have an licensees are beginning to knock on your door suggesting new ways to exploit your brand. Well, what do you do? Aside from registering here are our six tips to ensure new and growing brands are protected.
1. Nail down a license agreement
The backbone of your relationship with any licensee is the license agreement. Work with experienced advisers at the start of the process to ensure the agreement covers all matters that are important or may become important to you.
that may be open to interpretation. Any ambiguity can cause grief issues that are important to you and use creative deal terms to ensure that these are fully covered in the agreement.
2. Get the experts in early
Engage lawyers and accountants who can bring their cumulative legal and forensic experience to your ben
Specifying royalty rates for different income streams, reflecting the margin norms of the licensed product category (if the rate is too high, retailers must be willing to reduce their margins – if too low,
based on invoicing and sales based
Clearly identifying who bears the risk of bad debts and wrapping this
Clarifying allowable deductions and perhaps giving some clear examples of what is not an
Spelling out any overall caps on total deductions or any mar from the licensee (to ensure sales - tory approvals.
3. Make sure boundaries are clear
Specify if the licensee is allowed to hold back reserves for product returns, provide price increases without approval, or enter into transactions with related parties without your consent. Ensure the process for approving any special price increases are explicitly explained, and remember to consider that wording accounts for the rapid evolution of technology – you cann ot predict the future but you can predict that the future will look different: so utilize language that will protect you, whatever happens.
4. Know your audit rights