Selecting a New Name for Security Capital Pacific Trust
Selecting a New Name for Security Capital Pacific Trust
I. INTRODUCTION Security Capital Pacific Trust (“SCPT”), a Colorado-based Real Estate investing firm along with Real Estate Investment Trust, (“REIT”), operates in conjunction with a property management firm which includes 165 individual property companies. It is contemplating changing its company name because its present name, SCPT is not effective, is misleading its employees, shareholders and other individuals in the industry. The company operates under various names which creates both internal and external confusion and has specific names tailored to its function or area. Using different brand names prevents the company from creating a corporate structure and a sense of unity within the work force. As a result, SCPT has no clear mission or vision towards the future success of the company. Furthermore, employees feel that SCPT’s brand name does not adequately represent the appropriate image it would like to portray to its industry. Also, employees believe that a successful brand image originates from the parent company, thereby creating successful sub-divisions. Employees feel that the region-specific name limits the company’s potential to expand to other geographical areas and further confuses potential clients regarding the SCPT’s mission and objectives within the industry. As a result, SCPT wants to avoid confusion and create a less corporate-sounding and more customer-friendly brand name which will be both effective and legally-compliant with state and federal trademark regulations. It also wants to differentiate itself from Security Capital Group (“SCG”), its largest shareholder. SCPT Vice President of Marketing and Business Development, Dana Hamilton in conjunction with Lippincott & Marguiles (L&M), developed a strategic brand development plan which will include a “Core Team” of eight executives hired to generate, choose and legally
I. INTRODUCTION Security Capital Pacific Trust (“SCPT”), a Colorado-based Real Estate investing firm along with Real Estate Investment Trust, (“REIT”), operates in conjunction with a property management firm which includes 165 individual property companies. It is contemplating changing its company name because its present name, SCPT is not effective, is misleading its employees, shareholders and other individuals in the industry. The company operates under various names which creates both internal and external confusion and has specific names tailored to its function or area. Using different brand names prevents the company from creating a corporate structure and a sense of unity within the work force. As a result, SCPT has no clear mission or vision towards the future success of the company. Furthermore, employees feel that SCPT’s brand name does not adequately represent the appropriate image it would like to portray to its industry. Also, employees believe that a successful brand image originates from the parent company, thereby creating successful sub-divisions. Employees feel that the region-specific name limits the company’s potential to expand to other geographical areas and further confuses potential clients regarding the SCPT’s mission and objectives within the industry. As a result, SCPT wants to avoid confusion and create a less corporate-sounding and more customer-friendly brand name which will be both effective and legally-compliant with state and federal trademark regulations. It also wants to differentiate itself from Security Capital Group (“SCG”), its largest shareholder. SCPT Vice President of Marketing and Business Development, Dana Hamilton in conjunction with Lippincott & Marguiles (L&M), developed a strategic brand development plan which will include a “Core Team” of eight executives hired to generate, choose and legally