Getting it right from the start
Getting IP protection in place from the inception of a brand or product/service is crucial for maintaining and safeguarding its value and in preventing counterfeiting activity.
A strong brand is easier to both protect and enforce and by using combinations of different IP rights, companies can more effectively protect their most valuable brand assets across different markets. So, as indicated above, taking time at the creation stage to devise as distinctive a brand as possible and conducting searching to avoid third party brands is important.
Be strategic in putting protection in place
A few key filings in major territories can provide protection across a substantial portion of the global marketplace. It is important to take into account sector-specific factors when securing IP protection to ensure that a brand is secure in its own core markets and that it is shielded from infringement in major counterfeiting hotspots and in engaging local law enforcement through IP rights recordals with customs and other measures – again a lot can be achieved by focusing on a few key countries.
Enforce rights to support commercial success
Some years ago, the CEO of Prada famously said that ‘we don’t want a brand that no one wants to copy’. The reality for successful brand owners is that if their brand is good, it will attract people who want to copy it. Because of this inevitability, a structured approach to getting the IP protection right in the first place, and a management strategy of how to police and enforce going forward is not only required, but it is inevitable if you want to safeguard innovation and protect your customer experience.
Counterfeits can significantly damage and undermine a brand’s reputation and the customer experience for those unknowingly purchasing fake products that are likely to be of low quality and that could potentially pose a health and safety risk. These negative experiences will then be incorrectly attributed to the brand owner. By maintaining an active and visible anti-counterfeiting strategy based on a robust IP portfolio, brands will not only be protecting themselves and the reputation of their products; they can also maintain the trust and loyalty of customers who value high quality genuine products, their authenticity and exclusivity (which are often key to a brand’s value and success).
Beyond reputational damage and the risks to consumers, counterfeiting can also of course result in financial losses through loss of sales and the costs associated with managing any brand or reputational damage. Taking a proactive and robust stance against counterfeiting creates a more hostile environment for bad actors, making it more challenging for them to profit from the investment a brand has made in the creation of their IP and products.
