In 2015, the Polaroid brand earned an estimated USD$550 million. Not bad for a brand that was declared bankrupt in 2009. The company’s intangible assets – elements including any trademarks, copyright, designs, patents – were purchased by PLR IP Holdings, who then licensed all the assets for a brand revival.
Not only used on photography-related products including instant cameras, Polaroid is now a fashion icon with sunglasses and apparel plus stationery, drinkware and novelties.
Polaroid is affectionately known as a Phoenix Brand as it rose from the ashes.
Trademarks and intangible assets that reside within a company may prove, as in this case, to be the company’s greatest and most valuable asset. If we were to consider the Polaroid brand in this context, then brand owners who will stop at nothing to protect and preserve their intangible assets, do have something to leverage if the company’s business practices cause operations to wind up and yet still have a valuable equity to monetise after the fact.
The brand reputation, protected with trademark registrations, have allowed the new owners of Polaroid to exploit the brand to create innovative incremental income through licensing. A smart growth strategy when the focus has been to accentuate the Polaroid brand attributes with licensed product extensions that enhance the consumer engagement and quality of the brand experience.
To successfully venture into licensing, control of your brand is mandatory. Untapped Agency offers Trademarks Attorney services and is a Licensing Agent for Brand Owners, Licensees, Manufacturers and Retailers. We extend iconic brands, copyright, fashion, designs, innovations and trademarks into innovative, new consumer products, services and promotions.