Financial Information and Brand Value. Yves-Alain Ach. Читать онлайн. Newlib. NEWLIB.NET

Автор: Yves-Alain Ach
Издательство: John Wiley & Sons Limited
Серия:
Жанр произведения: Экономика
Год издания: 0
isbn: 9781119804192
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be free to engage in such trade or to exercise such profession, art or trade as he shall see fit, but he shall first be required to obtain a patent.” Thus, the first principle of “annuity” was established. The consequence of this principle was the end of the distinctive signs attached to corporations and all individual brands of craftsmen. The acts of competition that followed this period of anarchy caused abuses that led craftsmen and industrialists to demand the implementation of laws that could regulate this situation. The search for equality among citizens led the legislator of the time to enact a law putting an end to acts of unfair competition; the law of 22 Germinal year XI (April 12, 1803), in article 16, went too far by providing for a “hellish” penalty for offenders. Burst and Chavanne (1993, p. 455) compare this position to situations found in sociology and consider that “[…] it is a law of judicial sociology, where the law provides for penalties that are manifestly too severe and disproportionate to the gravity of the offence prosecuted, judges do not apply it in practice.” The replacement of an organized and hierarchical economic system by a system based on freedoms and equality was the real detonator of the use of brands as a commercial instrument. The 18th Century saw the birth of the brand as we know it today.

      The Industrial Revolution facilitated a new development for brands. It should be remembered that the term Industrial Revolution refers to three major changes in economic life. These three major changes were highlighted by John Stuart Mill (1965) (originally published in 1848), Karl Marx (1904) (originally published 1867) and Arnold Toynbee (1884). These concern the agricultural revolution, the demographic revolution and, finally, the manufacturing revolution. The latter evokes, in particular, the creation of the steam engine, textile machines and blast furnaces. This period of change led to a fragmentation of tasks, an increase in working time, in the pace of work and in productivity gains. Lévy-Leboyer (1968), in an article on economic growth in the 19th Century, concludes that “the French economy was dominated by the growth of industry, which eventually led to the development of all activities […], industry accounted for a quarter of total output from 1810 to 1840, a third in the intermediate period between 1850 and 1880, and half between 1890 and 1910” (Lévy-Leboyer 1968, p. 800). As the Industrial Revolution allowed for higher production than before, industrialists were faced with the problem of the flow of manufactured goods. They had to think of ways to make it easier for them to sell consumer goods. For them, brands were one of these ways.

      1.1.2. The brand’s legal character

      The first text that applied to the protection of brands was so harsh that the law was hardly applied at all. Indeed, this text provided for heavy penalties against counterfeiters (Title IV of the law of 22 Germinal year XI (April 12, 1803)). The following text (the law of July 28, 1824) followed the same path and proposed criminal sanctions for any use and affixing of another person’s trade name to products. The repeal of this text was obviously proposed. The law of June 23, 1857 was the first modern text, or at least the text which is at the origin of modern brand law. It laid the foundations for the major principles attached to brands and defined the property rights at the first act of using a brand.

      The idea was, as Burst and Chavanne (1993, p. 456) pointed out, to ensure that “brand ownership is acquired by first use”, although analysis of this principle revealed that it was particularly unfair.

      Legislators also reconsidered their position on this subject and, during the 20th Century and the development of advertising, felt the need to enact a new law. The law of December 31, 1964 provides that the rights attached to a brand are acquired exclusively by registration in the context of a brand application and no longer by use, and requires the administration to examine the application before filing. This law also introduces a possibility of revocation of the rights to a brand linked to failure to use it for five years. Following the drafting of this law, four other laws and two implementing decrees were enacted. It is understandable that the legislative arsenal became complex to ensure brand protection. The pace at which the laws were enacted was thus accelerated. Interest in brand protection grew and became a real economic issue that needed to be legally regulated.

      The constant changes in the law lead us to assess an unavoidable