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Contextual Brand Valuation / Delimitation or Coexistence Agreements
Contextual Brand Valuation / Delimitation or Coexistence Agreements
Contents
Chapter
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Page
2–4
Titelei/Inhaltsverzeichnis
2–4
Details
5–6
Acknowledgements
5–6
Details
7–14
Contents
7–14
Details
15–16
List of Figures
15–16
Details
17–20
Table of Abbreviations
17–20
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1 Introduction
21–27
1.1 Objectives and Structure of this Thesis
21–27
21–25
1.1.1 Objectives
21–25
Details
1.1.1.1 Structured Examination of Fundamental Valuation Issues
Details
1.1.1.2 Improvement of Tradability of IP as Assets: Reduction of Information Asymmetries and of Risks
Details
1.1.1.3 Value Implications of Trade Mark Law
Details
1.1.1.4 Valuation and Evaluation
Details
25–27
1.1.2 Structure
25–27
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1.1.2.1 Provision of Essential Knowledge
Details
1.1.2.2 Definition of the Desired Stage
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1.1.2.3 Examination of the Current Stage
Details
1.1.2.4 Introduction of Means to Overcome this Gap
Details
27–29
1.2 Distinguishing Reporting from Forecasting Valuations
27–29
Details
29–31
1.3 General Framework Underlying the Value of any Asset
29–31
29–30
1.3.1 Scarcity
29–30
Details
30–31
1.3.2 Utility and Title
30–31
Details
31–31
1.3.3 Intermediate Findings
31–31
Details
31–41
1.4 Requirements a Forecasting Valuation Technique Must Meet .
31–41
31–38
1.4.1 Conceptual and Methodical Soundness
31–38
Details
1.4.1.1 Comprehensiveness
Details
1.4.1.2 Context
Details
1.4.1.3 Transparency
Details
1.4.1.4 Flexibility
Details
1.4.1.5 Reduction of Asymmetries of Information and Reduction of Risks
Details
1.4.1.6 Reliability vs. Accuracy
Details
1.4.1.7 An Appropriate Degree of Objectivity
Details
38–39
1.4.2 Widespread Acceptance
38–39
Details
39–40
1.4.3 Manageable Output
39–40
Details
1.4.3.1 Future Orientation
Details
1.4.3.2 Comparability of Results
Details
40–41
1.4.4 Findings
40–41
Details
41–42
1.5 Summary
41–42
Details
2 Brand Valuation Fundamentals
43–77
2.1 Nature of Trade Marks and Brands
43–77
43–56
2.1.1 Intangible Assets and Intellectual Property
43–56
Details
2.1.1.1 Intangible Assets
Details
2.1.1.2 IP vs. Intangible Assets
Details
2.1.1.3 Value Drivers and Detractors
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2.1.1.3.1 Network Effects
Details
2.1.1.3.2 Nonrivalry
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2.1.1.3.3 Scalability
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2.1.1.3.4 Nontradability
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2.1.1.3.5 Partial Excludability and Spillovers .
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2.1.1.3.6 Inherent Risk
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2.1.1.3.7 Legal Scarcity
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2.1.1.4 Intermediate Findings
Details
56–77
2.1.2 The Term `Trade Mark' as Opposed to `Brand'
56–77
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2.1.2.1 Trade Marks - Definition and Functions
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2.1.2.1.1 Trade Marks as Legal Phenomena
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2.1.2.1.2 Trade Mark Types
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2.1.2.1.3 Trade Mark Functions
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2.1.2.2 Brands - Definition and Functions
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2.1.2.2.1 Brands as Personality-like Phenomena
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2.1.2.2.2 Brand Types
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2.1.2.2.3 Brand Functions
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2.1.2.3 Intermediate Findings
Details
77–77
2.1.3 Findings
77–77
Details
77–85
2.2 Introduction to Brand Valuation
77–85
77–80
2.2.1 Development of Brand Valuation
77–80
Details
80–84
2.2.2 Definition and Origins of Brand Value
80–84
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2.2.2.1 Brand Value Defined
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2.2.2.2 Sources of Brand Value
Details
84–85
2.2.3 Findings
84–85
Details
85–110
2.3 Reasons for Brand Valuation
85–110
85–91
2.3.1 Strategic and Operative Brand Management and Brand Controlling
85–91
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2.3.1.1 Marketing - Planning, Implementation and Control
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2.3.1.2 Communication with the Financial, Investment and Press Communities
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2.3.1.3 Assessment of Employee Bonuses
Details
91–96
2.3.2 Brand Transactions
91–96
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2.3.2.1 Brand Transfer (M&A, Outright Sale)
Details
2.3.2.2 Licencing
Details
2.3.2.3 Bankruptcy
Details
96–99
2.3.3 Brand Finance
96–99
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2.3.3.1 Collateralisation for Financial Needs
Details
2.3.3.2 Credit Rating
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2.3.3.3 Securitisation
Details
99–102
2.3.4 Brand Protection
99–102
Details
2.3.4.1 Brand Protection Strategy
Details
2.3.4.2 Assessment of Damages and Amount in Dispute
Details
102–110
2.3.5 Accounting and Tax
102–110
Details
2.3.5.1 Accounting
Details
2.3.5.1.1 International
Details
2.3.5.1.2 European Community
Details
2.3.5.1.3 Germany
Details
2.3.5.2 Tax
Details
2.3.5.2.1 Transfer Pricing
Details
2.3.5.2.2 Corporate Succession
Details
110–110
2.3.6 Findings
110–110
Details
110–112
2.4 Summary and Conclusions
110–112
Details
3 Brand Valuation - State of the Art
113–127
3.1 The Current Brand Valuation Landscape
113–127
113–116
3.1.1 General Issues and Trends
113–116
Details
116–118
3.1.2 Systematisation of Brand Valuation Methods
116–118
Details
118–126
3.1.3 Empirical Data on Distribution Rates: Surveys
118–126
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3.1.3.1 Drees (1999)
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3.1.3.2 Gunther and Kriegbaum-Kling (1999)
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3.1.3.3 Schimansky et al. (2003)
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3.1.3.4 Volckner and Pirchegger (2004)
Details
3.1.3.5 Intermediate Findings
Details
126–127
3.1.4 Findings
126–127
Details
127–170
3.2 Analysis of Currently Applied Brand Valuation Methods
127–170
127–129
3.2.1 Introduction
127–129
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3.2.1.1 Selection Criteria
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3.2.1.1.1 Practical Significance
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3.2.1.1.2 Subsient Elaboration
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3.2.1.2 Assessment Criteria
Details
129–150
3.2.2 Financial Techniques
129–150
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3.2.2.1 The General Approaches
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3.2.2.1.1 Cost Approach
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3.2.2.1.2 Market Approach
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3.2.2.1.3 Income Approach, Discounted Cash Flow and Decision Tree Analysis
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3.2.2.2 Derivative Generic and Proprietary Methods .
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3.2.2.2.1 Price Premium
Details
3.2.2.2.2 Licence Analogy / Relief from Royalty
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3.2.2.2.3 WoReWert® by Repenn
Details
3.2.2.3 Intermediate Findings
Details
150–157
3.2.3 Psychographic Models
150–157
Details
3.2.3.1 Examination of Indicators
Details
3.2.3.2 Brand Iceberg Model by Icon Added Value
Details
3.2.3.3 Intermediate Findings
Details
157–169
3.2.4 Financial-Behavioural (Hybrid) Models
157–169
Details
3.2.4.1 Brand Performance System by ACNielsen
Details
3.2.4.2 Interbrand Brand Valuation
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3.2.4.3 Intermediate Findings
Details
169–170
3.2.5 Conclusions
169–170
Details
170–174
3.3 Summary and Outlook
170–174
170–172
3.3.1 Important Brand Valuation Developments and Issues .
170–172
Details
172–174
3.3.2 First Steps Towards a Possible Solution
172–174
Details
4 A Systematic Integrated Valuation Methodology
175–192
4.1 Overview of the Valuation Process
175–192
175–180
4.1.1 Financial Income-Based Analysis
175–180
Details
4.1.1.1 Income Approach, DCF and Decision Tree Analysis
Details
4.1.1.2 Assessing the Spread
Details
4.1.1.2.1 One-Party Scenarios
Details
4.1.1.2.2 Two- or Multi-Party Scenarios
Details
4.1.1.3 Intermediate Findings
Details
180–191
4.1.2 Prismatic Evaluation
180–191
Details
4.1.2.1 Compilation of the Four Dimensions of Value
Details
4.1.2.2 Assessment of the Dimensions: Comparative Evaluation
Details
4.1.2.2.1 Point Score System
Details
4.1.2.2.2 Combination with the Value Spread
Details
4.1.2.3 Intermediate Findings
Details
191–192
4.1.3 Conclusions
191–192
Details
192–199
4.2 Satisfaction of Mandatory Requirements
192–199
192–197
4.2.1 Conceptual and Methodical Soundness
192–197
Details
4.2.1.1 Comprehensiveness
Details
4.2.1.2 Context
Details
4.2.1.3 Transparency
Details
4.2.1.4 Flexibility
Details
4.2.1.5 Reduction of Asymmetry of Information and of Risk
Details
4.2.1.6 Reliability
Details
4.2.1.7 An Appropriate Degree of Objectivity
Details
197–197
4.2.2 Widespread Acceptance
197–197
Details
197–198
4.2.3 Manageable Output
197–198
Details
4.2.3.1 Future Orientation
Details
4.2.3.2 Comparability of Results
Details
198–199
4.2.4 Findings
198–199
Details
199–200
4.3 Summary
199–200
Details
5 The Legal Dimension
201–206
5.1 Introduction
201–206
Details
206–224
5.2 Qualitative Scope of Protection
206–224
206–207
5.2.1 Introductory Remarks
206–207
Details
207–208
5.2.2 Abstract Distinctiveness
207–208
Details
5.2.2.1 The Law in General
Details
5.2.2.2 Value Implications
Details
208–217
5.2.3 Concrete Distinctiveness
208–217
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5.2.3.1 The Law in General
Details
5.2.3.2 Three-dimensional Marks
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5.2.3.3 Colours and Colour Combinations
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5.2.3.4 Vowel-free Marks
Details
5.2.3.5 Value Implications
Details
217–219
5.2.4 Non-Descriptiveness
217–219
Details
5.2.4.1 The Law in General
Details
5.2.4.2 Value Implications
Details
219–223
5.2.5 Graphical Representability
219–223
Details
5.2.5.1 The Law in General
Details
5.2.5.2 Olfactory Marks
Details
5.2.5.3 Audio Marks
Details
5.2.5.4 Abstract Colour Marks
Details
5.2.5.5 Value Implications
Details
223–224
5.2.6 Findings - Relation to Brand Value
223–224
Details
224–226
5.3 Quantitative Scope of Protection - the Classes
224–226
224–225
5.3.1 System of Trade Mark Classification
224–225
Details
225–226
5.3.2 Findings - Relation to Brand Value
225–226
Details
226–228
5.4 Geographic Scope of Protection
226–228
226–227
5.4.1 The Law
226–227
Details
227–228
5.4.2 Findings - Relation to Brand Value
227–228
Details
228–229
5.5 Temporal Scope of Protection
228–229
228–228
5.5.1 Beginning and Duration of Protection
228–228
Details
5.5.2 Findings - Relation to Brand Value
Details
229–240
5.6 Origin of Trade Mark Protection: Registered Trade Marks
229–240
229–230
5.6.1 Introductory Remarks
229–230
Details
230–239
5.6.2 International, European and National Registration Systems
230–239
Details
5.6.2.1 National Registration - Example Germany
Details
5.6.2.2 The Madrid System
Details
5.6.2.2.1 International Registration Procedure
Details
5.6.2.2.2 The Madrid Protocol
Details
5.6.2.3 Community Trade Mark Registration
Details
239–240
5.6.3 Relation to Brand Value
239–240
Details
240–245
5.7 Origin of Trade Mark Protection
240–245
240–241
5.7.1 Introductory Remarks
240–241
Details
241–243
5.7.2 Well-Known Marks
241–243
Details
243–244
5.7.3 Trade Marks Acquired Through Use
243–244
Details
244–245
5.7.4 Relation to Brand Value
244–245
Details
245–246
5.8 Use
245–246
245–245
5.8.1 The Law in General
245–245
Details
5.8.2 Findings - Relation to Brand Value
Details
246–247
5.9 Title
246–247
246–246
5.9.1 Introductory Remarks
246–246
Details
5.9.2 Relation to Brand Value
Details
247–248
5.10 Prosecution, Litigation and Settlement
247–248
247–247
5.10.1 Introductory Remarks
247–247
Details
5.10.2 Relation to Brand Value
Details
248–251
5.11 Likelihood of Confusion
248–251
248–250
5.11.1 The Law in General
248–250
Details
250–251
5.11.2 Findings - Relation to Brand Value
250–251
Details
251–255
5.12 Protection Beyond Similarity
251–255
251–251
5.12.1 Introduction
251–251
Details
251–254
5.12.2 Trade Marks With a Reputation
251–254
Details
254–254
5.12.3 Well-Known Marks
254–254
Details
254–255
5.12.4 Implications on Brand Value
254–255
Details
255–260
5.13 Contractual Limitations
255–260
255–258
5.13.1 Licencing Agreements
255–258
Details
258–259
5.13.2 Delimitation or Coexistence Agreements
258–259
Details
259–260
5.13.3 Findings - Relation to Brand Value
259–260
Details
260–262
5.14 Trade Mark Surveillance and Genericide Prevention
260–262
Details
262–262
5.15 Summary
262–262
Details
263–270
6 Summary and Perspectives
263–270
Details
7 Ausführliche Zusammenfassung in deutscher Sprache
271–274
7.1 Einführung in die Thematik
271–274
271–273
7.1.1 Grundlagen der Wertbildung jedes Vermögensgegenstands
271–273
Details
273–273
7.1.2 `Forecasting'- und `Reporting'-Bewertungen
273–273
Details
273–274
7.1.3 Von einer forecasting-Bewertungsmethode zu erfüllende Voraussetzungen
273–274
Details
274–277
7.2 Grundlegendes zur Markenbewertung
274–277
274–275
7.2.1 Immaterielle Güter und gewerbliche Schutzrechte
274–275
Details
275–276
7.2.2 Wesensart von Marken und Brands
275–276
Details
276–277
7.2.3 Einführung in die Markenbewertung
276–277
Details
277–277
7.2.4 Anlässe zur Markenbewertung
277–277
Details
277–280
7.3 Markenbewertung - der derzeitige Stand
277–280
277–278
7.3.1 Überblick Über die momentane Markenbewertungslandschaft
277–278
Details
278–279
7.3.2 Analyse gängiger Markenbewertungsmethoden
278–279
Details
279–280
7.3.3 Schlussfolgerungen
279–280
Details
280–282
7.4 Entwicklung eines eigenen Ansatzes
280–282
Details
7.4.1 Überblick über den Bewertungsprozess
Details
7.4.1.1 Finanzielle ertragswertbasierte Analyse
Details
7.4.1.2 Prismatische Evaluation
Details
282–288
7.5 Die rechtliche Dimension des Markenwertes
282–288
282–284
7.5.1 Qualitativer Schutzbereich - Unterscheidungskraft, Freihaltebedürfnis und graphische Darstellbarkeit
282–284
Details
284–284
7.5.2 Quantitativer Schutzbereich - die Markenklassen
284–284
Details
284–285
7.5.3 Geographischer und zeitlicher Schutzbereich
284–285
Details
285–285
7.5.4 Entstehung des Markenschutzes: registrierte und nicht registrierte Marken
285–285
Details
285–286
7.5.5 Benutzung
285–286
Details
286–286
7.5.6 Inhaberschaft und andere Rechtstitel
286–286
Details
286–286
7.5.7 Amts- und Gerichtsverfahren; Vergleich
286–286
Details
286–287
7.5.8 Verwechslungsgefahr und Markenschutz darüber hinaus
286–287
Details
287–288
7.5.9 Vertragliche Einschränkungen
287–288
Details
289–304
Bibliography
289–304
Details
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Contextual Brand Valuation , page 258 - 259
Delimitation or Coexistence Agreements
Autoren
Eva Riemann
DOI
doi.org/10.5771/9783845241890-258
ISBN print: 978-3-8329-7637-8
ISBN online: 978-3-8452-4189-0
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