Trade mark registrations underscore financial sector rebound
Trade mark registrations by financial services firms in the UK have rebounded after the 2008 financial crisis as businesses seek protection for the new products they are launching
From 2008 to 2009 the number of new trade marks registered by the financial services sector fell by 57% from a high of 3,940, says UK law firm law firm RPC. Last year that figure rose to 3,396.
Jeremy Drew, a partner at the firm, says that trade mark filings in the financial services sector collapsed in the down turn as the number of new product launches from traditional residential mortgages through to complex securitisation dried up and companies sought to focus on their core businesses.
"Now that the financial services sector has started to rebound, and banking, insurance and asset management businesses look for growth, investing in intellectual property is firmly back on the agenda," he said.
He added that as financial service products are so at risk of commoditisation, banks and other financial services business are often willing to invest heavily to differentiate their products through branding - including brand names.