Build your brand in the BRIC economies
18 May 2009
Peter Ollier, Seattle
Trademark owners looking to capitalize on the increasing economic clout of the BRIC countries need to be aware of the challenges that they face, says Peter Ollier.
The term BRIC to describe Brazil, Russia, India and China was first used by a Goldman Sachs economist who predicted that these countries would be among the four most dominant by 2050. While such long-term predictions always involve guesswork, the financial crisis has increased their importance. This was underlined by the inclusion of all four countries in the G20 meetings that are now held annually.
But the fact that, in the middle of an economic crisis, India and China showing merely a slowing of growth rather than actual recession, deflation or stagnation does not mean success for brand owners in these countries is guaranteed. In contrast, there is a healthy publishing market for the horror stories from the 1990s of young, naïve businessmen who went to a BRIC country to try to build fortunes and found themselves out of their depth in a system where the law means something different...
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