It is always interesting to recall the story of the origin of trademarks. With humble beginnings in the rural countryside to the emergence of billion dollar trademark behemoths in cosmopolitan urban centres, the journey of the “brand” has been a long one. The concept of trademarks began with the branding of cattle with the insignia of the cattle owner so that they could be identified. With the emergence of the industrial revolution, similar insignia, identifying the worker's guild and later different merchants were placed on the products. Over a period of time, these marks became associated with the product and consumers would instantly associate certain qualities with the mark and thereby, the product itself.

It was then that the world woke up to the possibility of using the trademark, now also incorporating the name, the mark, the packaging and the overall appearance, as part of the "marketing" strategy. Brand loyalties also developed with respect to trademarks that became well-known. Some marks became so well-respected that any product they would be placed upon would be guaranteed immediate success. Some others, which were so well-known for a particular product, could not sustain themselves for any other. Whatever be the case, it was soon apparent that the trademark was an immense force behind the success or failure of a business.

Trademarks were no longer mere identity tags on products; they are now indicators of trade origin, guarantors of quality and instruments for marketing. Businesses can no longer afford to disregard the importance of IP, particularly trademarks, for their development and growth. With this, and the advent of the information age, a gradual but effective change took place. The ratio of tangible to intangible assets of business began showing a marked shift in favour of the intangible. By the turn of the last century, by one estimate, about 80% assets of a business could be comprised of intangible assets. IP, particularly trademarks, comprises a large chunk of this.

In some cases, the value of a business' IP exceeds the value of all the cumulative assets of the organisation. Take the example of the trademark Coca-Cola. It has, for years, been the global leader among trademarks in terms of value. By some accounts, it is estimated to be worth 66,667 million dollars! IBM and Microsoft respectively take the second and third spots with values being just over 59,000 million dollars1.