INTELLECTUAL PROPERTY VALUE IN COVID-19 ERA – WITH EMPHASIS ON TRADEMARKS

Abstract

The intellectual property refers to the creations of the mind – everything from works of art to
inventions, computer programs to trademarks and other commercial signs. The intellectual
property is divided in two major groups, industrial property rights and copyright and related
rights. The most well-known industrial property right are the trademarks. However, the
trademarks are often misperceived with brands. The term “brand” is larger and typically refers
to a group of complementary assets such as the trademark and its related trade name, formulas,
copyrights, and technological expertise etc. Furthermore, a “brand” is the image of one
company and is an economic term, rather than legal one. At present the value of one company
is largely determined by the intellectual property rights, representing up to 80% of the entire
company value. However, in these troubled times, the value of certain companies and by these
the value of their trademarks increased, on the account of the others. The economic downturn
as the result of measures taken to fight the spread of COVID-19 presented an opportunity for
many companies to strengthen their trademarks, but also their brands as a whole. The aim of
this article will be to determine the methods for valuation of the intellectual property rights,
especially the trademarks in one company from the perspective of the legislation in North
Macedonia. In addition this article will offer a comparative overview of the most influential
worldwide brands and the industries where the intellectual property rights play major role in
the total estimation of the company. Finally the article will offer some conclusions on the
relation between the COVID-19 era and the intellectual property potential as an intangible asset
in the companies.