[Shane]

relevant extract from the agency email sent to us by google which clarifies their stance on it :

"I want to make it clear that this is a revision that only affects
keyword bidding. Advertisers and Agencies are accustomed to the fact
that users typing in their trademarked term as part of a two, three or
four word search will have always resulted in competitor ads running.
For example, someone typing in 'x,y,z credit cards' in the search box
will see lots of different, relevant credit card ads because broad
matching will bring up ads for those advertisers bidding against the
keywords 'credit card'. So, we hope this will be a familiar step for
agencies and advertisers.

However, despite this trademarked keyword change, our strict ads text
policy remains unchanged: unauthorised advertisers will not be able to
use a monitored trademarked term in their ad text. So, ads of
trademark owners are still likely to have the edge over those of
non-trademark owners because these ads can use the trademark terms in
the ad text: they are likely to have higher click through rates; and
therefore more likely to achieve a better position in the sponsored
links.

This change brings the UK and Ireland into line with the US and Canada
which has been running this policy since 2004. A good proportion of
users in the US and Canada have been clicking on competitor ads even
when searching against trademarked terms, suggesting that they find
the greater number of ads relevant and helpful when researching or
making a purchase."