Google overtakes Apple in brand list
Google has been ranked the number one most valuable brand, overtaking Apple which took top spot last year.
The rankings were released in a report by brand evaluation company BrandZ called “BrandZ Top 100 Most Valuable Global Brands 2016.”
Google’s parent company Alphabet’s value increased by 32% while Apple’s value decreased by 8%, according to the report.
Microsoft remains at number three in the list and telecommunications company AT&T is ranked fourth. Facebook, Visa, Amazon, Verizon, McDonald’s and IBM make up the rest of the top ten.
According to the report, Google’s growth in cloud business and increased revenue from advertising has contributed to its top ranking.
Simon Bennett, partner at law firm Fox Williams, told WIPR about the importance of intellectual property to a brand’s value.
“It is IP that serves to protect a brand’s exclusivity and identity,” he said.
“Without IP it is very difficult to stop imitators that can dilute and erode a brand which in turn reduces its value.”
But Bennett added that powerful brands should also be wary of the threat of becoming generic terms like Aspirin and Sellotape have done.
“This is a potential issue for Google in particular as its name has become synonymous with internet search engines and the phrase ‘to Google it’ a term in common parlance,” he said.
Jeremy Hertzog, partner at law firm Mischon de Reya, told WIPR: "IP represents a significant element of a brand's worth. The brands listed in this index are all known for being forward-thinking in their products and services and also in how they engage with the market.
"For businesses looking to develop their brand value, sophisticated and co-ordinated IP strategies are critical in harnessing and exploiting their innovation," he added.
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