Reputation
Unlike the intangible resources treated above
reputation has little significance in a legal context
other than the redress obtainable with respect to
libel and defamation. It is clearly not possible to
buy or to sell reputation except insofar as it may
be construed to reside in a registered brand name.
Reputation, which represents the knowledge and
emotions held by individuals about, say, a product
range, can be a major factor in achieving
competitive advantage through differentiation; it
also contributes to a defendable position because
of the time which can be involved in matching
a reputation which is strong in both fame and
esteem; fame can be bought with advertising
spending in the short term, but esteem has to be
earned, usually over a long period of time.