International expansion: Why branding and intellectual property matter more than ever
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SINGAPORE enterprises are eager to venture abroad once again now that travel has normalised, with a recent survey by DBS showing that over 60 per cent of small and medium-size enterprises (SME) are prioritising overseas expansion for this year.
As enterprises gear up to explore new markets, they are heading into a more challenging business environment with supply chain disruptions and rising operational costs among the more common fears.
Amid the various macroeconomic concerns, it is all too easy to overlook elements such as branding and intellectual property (IP) when businesses are spreading their wings abroad. As businesses make audacious plans to access global markets, expanding a brand extra-territorially without an IP strategy in place means increased exposure to the risks of counterfeiting and trademark infringements.
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