Ridgefield, CT (PRWEB) April 21, 2005
S. G. Hart & Associates, LLC, The Brand Equity Protection CompanyTM, has authored the cover article in the April issue of Directors Monthly, A National Association of Corporate Directors Publication. Stanley G. Hart, President & CEO of S. G. Hart & Associates authored the work, which outlines the need for Board of Director participation in protecting a companyÂs intellectual property rights (IPR), trademarks and copyrights from the threat of counterfeiting, product diversion, tampering & theft.
By being included in Directors Monthly and, moreover, being selected as the cover article, Stanley G. Hart remarked, ÂI am delighted that the editorial staff of the National Association of Corporate Directors saw the need to make this a cover article and, in effect, highlight a subtle component required of The Sarbanes-Oxley Act of 2002 which is the need to protect brands and other forms of intellectual property from fraud. Fraud includes the negative effects of counterfeiting, product diversion, tampering & theft. Hart continued, ÂGood corporate governance requires protecting assets against all forms of risk, including counterfeiting and diversion. To do so, boards must identify all risks and ensure that policy, procedures, and a plan of action are in place to confront such risks.Â
In his article, Hart outlines the threat, explains government involvement, reviews the harmful results of counterfeiting and diversion, and presents the steps to deal with the problem. Hart concludes ÂProtecting the brand is not just another cost of doing business. Protecting brands, IPR, trademarks, and copyrights is smart business that can enhance or recapture top-line revenue. Understanding the threat of counterfeiting and framing this threat the same way one might frame any other competitive situation is a strategic exercise worthy of all board members.Â
The Sarbanes-Oxley Act of 2002 (SOX) is U.S. legislation that was signed into law by President George W. Bush on July 31, 2002. The purpose of SOX is to re-instill confidence and trust in the corporate accounting reporting practices used to evaluate publicly traded companies of the United States. U.S. public companies with equity market capitalization over $75 million are required to comply with the new SOX amendments beginning with their first fiscal year ending on or after November 15, 2004. Non-accelerated filers must begin to comply with these requirements for their first fiscal year ending on or after July 15, 2006.
S. G. Hart & Associates has planned a series of educational, on-line ÂWeb CastsÂ focusing on the Sarbanes-Oxley Act of 2002 and the brand protection disclosure and internal control requirements that apply. Participant registration is available through the companyÂs website at http://www.sghartassocates.com along with presentation dates and times.
About S. G. Hart & Associates, LLC
S. G. Hart & Associates, The Brand Equity Protection CompanyTM, is based in Ridgefield, Connecticut, USA. S. G. Hart & Associates is a global brand protection consulting company helping clients develop and implement strategies that protect supply chains from the disruptions caused by counterfeiting, product diversion, tampering & theft. S. G. Hart & Associates ensures that the integrity of the firmÂs most valuable asset Â its brand - is secure, that the brandÂs ability to generate and preserve revenue is maximized and that effective controls are used to safeguard the branded asset against unauthorized or improper use.
About National Association of Corporate Directors (NACD)
National Association of Corporate Directors (NACD), an independent not-for-profit organization founded in 1977, is the countryÂs only membership organization devoted exclusively to improving corporate board performance. The NACD conducts education programs and standard-setting research, and provides information and guidance on a variety of board governance issues and practices.
About Directors Monthly (DM)
Directors Monthly (DM) is a membership benefit of NACD, a not-for-profit educational organization [501(c)(3)]. This 28-page monthly newsletter is packed with in-depth articles, lively columns, and news items relevant to board members and senior executives dealing with corporate governance issues.
Director, Public Relations
S. G. Hart & Associates, LLC
31 Bailey Avenue, Suite 5
Ridgefield, Connecticut 06877 USA
National Association of Corporate Directors and Directors Monthly Two Lafayette Center
1133 21st St. NW, Suite 700
Washington, D.C. 20036 USA
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