The American Marketing Association defines a brand as a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller and to differentiate them from those of other sellers.

A strong brand name is an invaluable asset for the business. Here are the top 10 most valuable brands in the world as of 2014.

10) Louis Vuitton (Brand value: $29.9 billion)

Louis Vuitton is the most valuable luxury brand in the world. It is also a profitable brand, with profit margins approaching a whopping 40 percent. Hand bags, leather goods, shoes, trunks, jewelry, watch and accessories are some of Louis Vuitton’s products. You will find LV monogram on most of these products.

9) Toyota (Brand value: $31.3 billion)

Toyota is a reliable global car brand. Its profits doubled last year. Its brand value increased by 22 percent over the last 12 months. The company has produced more than 200 million vehicles. It has many happy users all over the world.