IP rights are critical in the FMCG industry because companies operating in this sector rely heavily on brand recognition and brand loyalty for their success. It makes sense then that IP Rights are pivotal in any FMCG company’s long-term strategy for success. Thus, such companies use numerous IP rights, including copyrights and trade secrets.
There are two strategic phases for FMCG Company in IP area:
- Product development
- Commercialization and marketing
In terms of FMCG product development, patents, industrial designs and utility models represent a fundamental industrial right. Effective patent protection represent the most important asset of consumer goods, where products require time and investment for development and therefore take longer to turn a profit.
A product’s brand, including its commercial image, is generally the most visible and long-lasting IP right that consumer goods companies must use and exploit.
Trademarks are relevant to companies in all sectors of the consumer goods industry and are often the most important differentiator between competitors.
Trademarks, including product design trade dress, and product packaging trade dress, are often the most visible, and longest-lasting, IP Right that FMCG businesses should take advantage of and utilize. Aside from distinguishing the source of goods or services from those offered by others, trademarks embody the accumulated goodwill of a business and represent the significant investments that companies have made in a particular product or service, both in terms of time and resources. Trademarks, unlike most other IP Rights, can be maintained in perpetuity provided their use and/or registrations are maintained.
iVakil IP team has vast experience in dealing with FMCG and consumer care product industry and help client in FMCG business with:
- Strategic advice on IP protection based on consumer products/brands
- Patent protection
- Copyright protection
- Design protection
- Brand Trademark protection
- Trade secret protection
- Maintenance for all types of IP protection