Risk management and risk assessment for brand protection

There have been few systematic approaches to brand protection. Nevertheless, risk management standards of the International Organization for Standardization (ISO) offer practical guidance for brand protection professionals. ISO 31000 has elements that can apply to each of the tenets of the total business solution to brand protection. These include risk identification for identifying the infringer as the unseen competitor; leadership and commitment for emphasizing prevention, proactivity, and security; defining risk criteria and preparing and implementing risk treatment plans for setting performance metrics and data; establishing principles and undertaking risk analysis for highlighting the value of internal and external controls; and establishing principles for creating a culture of continuous improvement and learning and promoting a holistic approach to brand protection. This chapter describes applications of these elements as well as how to conduct risk analysis at the level of the product and brand and at the level of the value chain.