20:59
got a random stanford email and almost had a heart attack
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LSDefine
Simple English definitions for legal terms
bridge the gap
Read a random definition: tangible property
A quick definition of bridge the gap:
Bridge the gap: When a company uses an existing name or logo to sell new products or services, or to sell in new places, it is called "bridging the gap." This helps the company take advantage of the good reputation of the original name or logo.
A more thorough explanation:
Definition: To use an existing trademark or tradename to promote new products or services, or to expand into new marketing areas.
Example: Nike is a well-known brand that sells athletic shoes and apparel. If Nike were to start selling furniture, they could use their existing brand recognition to promote their new line of products. This is an example of bridging the gap.
Explanation: Bridging the gap means using an established brand to promote new products or services. In the example above, Nike is using their existing brand recognition to promote a new line of products. This can be a smart business move because customers are more likely to trust a brand they already know and love.