Luxury companies are seeing a rise in IP litigation but some complain of public apathy to the concept of IP rights, according to research for next week's Luxury Law Summit.
Luxury companies and their advisers are seeing a marked increase in IP litigation with trademarks topping the list. Nearly half (47 per cent) reported a rise in trademark litigation followed by copyright litigation (31 per cent) and design rights (19 per cent). Other issues at the top of their agenda included Brexit, Data and the impact of GDPR legislation, privacy and sustainability. However, the overriding concern was around IP with many pointing to 'look alike' designs sold by fast fashion companies and counterfeiting in China with some blaming public apathy for the increase in counterfeiting.
Speaking in advance of the Luxury Law Summit on 16 May, David Franklin, global director of brand protection at CSC, says that the 'fast-growing digital world has created the perfect storm for the counterfeit economy to flourish. Rogue websites, online marketplaces, social media channels and mobile apps give fraudsters readily-available anonymous channels, making conducting their business easier than ever – and business is booming.' He believes that cost and convenience have driven the online counterfeit market in consumer electronics, apparel & accessories and food & drink and that luxury goods are particularly targeted as counterfeiters can make big margins on sales and consumers continue to seek out lower prices and alluring discounts.
Keeping brands safe online
At the Luxury Law Summit, Mr Franklin will discuss the impact online counterfeiting – from brand-damaging to life-threatening; the threats to luxury brands – and to consumers; the importance of a solid brand protection strategy – and how luxury brands can keep their brands and their customers safer online. For further information, contact email@example.com.