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The main purpose of this study is to investigate the mediating effects of brand relationships in the dynamic process of B2B brand equity development. The study considers the mediating effects of relational factors and their significance for enhancing brand equity in industrial settings. The findings of this study confirm the importance of brand relationships established between service providers and their clients in the B2B context. More specifically, the study demonstrates the significant mediating effects of customer perceptions about human capital and established relational trust on B2B brand equity. The existence of significant effects between the dimensions of brand equity, human capital, and relational trust confirms the relevance of considering these factors in the dynamic process of brand equity development.