Written By: Cara O’Hanlon
Edited By: Zara Watson, Esq.
Trademarks serve as a very valuable asset to luxury brands. Intellectual property assets can be extremely profitable by setting these brands apart from competitors and upholding their reputation. Luxury names and logos allow consumers to expect higher quality of products before purchasing.
Trademarks help shoppers identify the source of a product or service and ensure high quality goods. For example, the Yves Saint Laurent name and logo in luxury fashion suggests a higher level of quality than many other clothing and accessory brands. Luxury brands can therefore increase their prices as their intellectual property becomes a status symbol. Consumers are attracted to these trademarks and their reputation. This makes these trademarks extremely valuable for companies. Many successful and well-known companies in the United States own intellectual property worth billions of dollars. For example, the Mercedes-Benz trademark is valued at approximately $32 billion. The Gucci trademark is worth about $10 billion and the Louis Vuitton trademark is worth $25 billion.
The misappropriation of trademark rights can make luxury brands vulnerable to counterfeiters. Counterfeit products can harm brand image, as these items are typically of much lower quality. Businesses selling low quality products can invalidate your intellectual property and name by violating your trademark rights. By diligently protecting and enforcing their intellectual property, luxury brands can avoid loss of profits and preserve their reputation. At Zara Watson Law, we are an award winning, modern legal team providing a transparent trademark process for the digital entrepreneur. We provide peace of mind through white-glove support from start to finish. Click here to apply for a trademark today.
**This post is for informational purposes only, no attorney-client privilege has been formed.