In recent decades, corporate rebranding has been receiving a lot of attention by the organizations which tend to strive on achieving a competitive advantage by developing a distinguished brand identity in the minds of their customers. The extant rebranding literature lacks understanding of the effects of rebranding strategies on the brand equity of professional service firms. This dissertation helps to fill this gap; its findings offer useful insights for managers of businesses considering rebranding as a strategic option. The study investigates the crucial factors that affect an organization when it plans to rebrand itself. The aim of the dissertation is to understand the rebranding process undertaken by three professional service organizations studied and the strategies they adopted for the rebranding process. The data collection is guided by employing a qualitative technique involving a multiple case study approach of three cases providing professional services. The data was collected by the means of semi-structured interviews with marketing professionals of the professional services firms, supported with the use of secondary sources. The findings suggest brand communication and the ownership support as the two main pillars that enhance the effectiveness of rebranding strategies. The theoretical contribution of this report is to suggest an addition of a sub-process named ownership support in the corporate rebranding framework. The findings provide context for managers to gain crucial insights in the context of different kinds of rebranding strategies they can consider and the effectiveness of these rebranding strategies on brand equity and its dimensions when an organization plans to rebrand itself.