Digital Brands: A New Now
As online markets emerge and rapidly grow under the warp of the COVID-19 Global Pandemic, the popularity of eCommerce websites expands with it. This, brings an unprecedented surge of online brands!
The eCommerce marketplace and created space for small and medium businesses companies that would have otherwise not stepped foot. An online presence is essential for businesses and individuals alike.
This new trend is wonderful but, it is not without tribulation!
It is advisable that brand owners file their trademark application early in the process of using their name and selling their products or services in commerce. This fierce and fast expansion of the online marketplace has found many brands utilizing trademarks that have swiftly entered the competitive sphere without formal registration by their owners.
This swift movement, while lucrative at the start, creates issues for brand owners down the line, once they decide to register their brand name by way of trademark, and learn that their brand name is registered by an owner using the same name in a similar fashion or by entities that have found the name, registered it, and now squat on the registration to upsell it to true users.
Once registered, it is important for brand owners to manage their trademark protection on channels such as search engine marketing, affiliate markets, social media, and online marketplaces to fully reap the benefits of the investment of officially establishing the brand.
Brand owners should be aware that there is an upswing in eCommerce and globalized counterfeiting. Management of trademark protection is key in monitoring whether fraudsters or counterfeiters on the channel platforms seek to rip off brands for financial gain and otherwise as IP crime is currently a big threat that faces brand owners in this new now.
As counterfeiting has become progressively complex, it is imperative that brand owners are aware of these potential and current threats and enlists assistance to create timely and expert strategies in order to prevent and handle it efficiently should a problem arise or persist.