As brand owners deploy resources for brand protection, they seek to understand their return on investment and how to make their investments more effective. We investigate how firms measure their return on investment (ROI) in brand protection and consider alternatives to ROI that they might use. We interviewed brand protection professionals from ten firms in three broad industry categories: microelectronics and computer products; food, agricultural, and pharmaceutical products; and apparel, consumer, and luxury products. Because previous research on this topic is lacking, we identified firms’ metrics for activities, outcomes, and valuation. We also sought to identify the context of implementation for their metrics. Our ultimate focus was to identify how firms measure their brand protection activities and outcomes, as well as the value of their efforts. We found firms most often measure their activities rather than assess activity outcomes or value. We summarize and classify the metrics respondents reported using and offer recommendations for improving brand protection metrics. Understanding current metrics and their context, as well as metrics firms might use, can contribute to the practice of brand protection measurement and the success of brand protection programs.