Abstract
Research shows that financial markets value trademarks. 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 intellectual property and brand management are discussed.
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Acknowledgements
We thank Dietmar Harhoff for his valuable support. We would also like to thank Georg von Graevenitz for his discussions on several issues concerning this work. This work would not have been possible without data provided by the OHIM in Alicante, Spain. The contributions of the participants in the SFB/TR 15 workshop and research seminar at the University of Munich have also been helpful in the production of this manuscript. All authors contributed equally. Funding of the Deutsche Forschungsgemeinschaft through the project ‘Governance und die Effizienz ökonomischer Systeme’ (SFB TR 15) and of the European Science Foundation through the project ‘Science and Technology Research in the Knowledge-Based Economy’ is gratefully acknowledged.
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Block, J., Fisch, C. & Sandner, P. Trademark families: Characteristics and market values. J Brand Manag 21, 150–170 (2014). https://doi.org/10.1057/bm.2013.27
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DOI: https://doi.org/10.1057/bm.2013.27