Brands do have intrinsic value

Belarusian manufacturers need to assess the value of their brands, notes book devoted to brand protection
By Oleg Onufriev

“We should make assessments as we’ve underestimated the value of brand loyalty and of various intangible assets,” notes the Chairman of the Minsk Capital Association of Entrepreneurs and Employers, Vladimir Karyagin. Of course, there are many ways to assess brands and trademarks but Belarusian and Eurasian patent attorney Maryam Goryachko explains that Belarusian legislation does cover this sphere, which can greatly influence the success of businesses and the economy at large.

Few companies in Belarus appreciate the notion of trademarks and have no idea of the importance of protecting them. Clearly, they need to be educated, understanding that all brand names should be protectable as trademarks.

The Chairman of BelBrand Association, Albert Taipov, emphasises that companies may find themselves paying more tax as a result of assessing the value of their brand. “However, the move also has great benefits,” he asserts. The Press Secretary of the Ministry of Foreign Affairs, Andrei Savinykh, tells us that Belarus has two or three global brands and about a hundred regionally known (using set criteria of recognition).

The book dedicated to the protection of Belarusian producers’ brands details current issues in the field of intellectual property rights. Besides Mr. Savinykh and Mr. Taipov, its authors include an academician of the National Academy of Sciences of Belarus, Piotr Nikitenko, and the Director of the Strategic Development Centre for Marketing Technologies, Anatoly Akantinov.
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