When a successful brand has years of positive history and stories behind it, that is known as brand equity, which is something to be treasured and nurtured. But if a brand has been struggling, has grown tired, or has been damaged, its brand equity might better be described as baggage. If you have a successful brand in spite of a poor name, a new, powerful name can only help, and your customers will gladly follow your lead. But if your brand has fallen on hard times, then you have no real brand equity to worry about – you’ve got nothing to lose, and you’re free to reinvent the brand.