How can Trademarks be Protected in the Metaverse?
Within the metaverse, registered trademarks are in a position to expand their business in a totally revolutionary way. This new platform, however, requires companies to take a series of precautionary measures to adequately protect themselves and their trademarks in certain situations.
What Is the Metaverse?
The metaverse is an immersive virtual world that exists side by side with the world we live in. It consists of digital representations (avatars) of people, places and things. These avatars allow users to live a digital life that is full of possibilities. Users can replicate almost anything they do in their everyday life, such as communicating or working with others.
The potential for all kinds of users is huge, for companies in particular, as their branding and marketing can have an enormous impact.
How does this affect my company?
The Metaverse provides endless possibilities for brands to create new experiences. Companies should start thinking about how they will operate in the Metaverse, because it will determine how they market their products and services in the future: it will become a new marketing channel, and will influence their brand image. For example, they will be able to leverage the information and analytics that they collect in the Metaverse to increase their sales in the real world. Ultimately, it is a new space in which to approach the target audience.
As the Metaverse expands and matures, the opportunities for branding and advertising will increase accordingly. In fact, most things we do in the real world will have their counterpart in this new digital world. Examples of this include signage and displays in virtual retail stores; special networking and engagement events; events in the metaverse; NFT-type digital products and virtual clothing for digital avatars; and sponsorships in virtual classes.
How can a brand be protected in the Metaverse?
Companies such as Nike, Vanity Fair and Walmart are already using this space to expand their brands, creating their own worlds or holding events in the existing ones. To ensure effective protection, companies must devise an appropriate brand strategy. This means registering the intellectual property of the logo, the name and slogans that the company is going to use with its intangible assets, just as it would in the real world.
Protection works the same way, and crimes such as theft or identity theft have the same effects since the law also applies to the services and products offered in virtual environments. By registering them under the trademark, they will be protected by it and the company will be legally recognized as their owner, plus this is the best way to protect the company's interests. Thus, the owner of the registered trademark will have exclusive rights of use and all necessary legal tools at its disposal to prevent its unlawful use by other actors in the metaverse.
Although so far the Nice Classification does not include a specific list of virtual products, it is nevertheless recommended to take advice from an IP services company when it comes to assessing other classes to have better protection in the metaverse.
Benefits of comprehensive intellectual property services
Intellectual property is just as important in the metaverse as it is in the real world. Using an appropriate IP service provider will reduce your costs and streamline your paperwork thanks to having qualified experts in this field by your side.
Furthermore, you will have a strategic ally that will provide you with quality information and services. In the event of any infringement or violation of the owner’s rights the IP service provider will react appropriately and effectively protect the trademark in the digital environment.
In short, companies wishing to establish their trademarks in the metaverse can count on solid protection. In order to do so, it is essential that they register the intellectual property of all their products and services, be they tangible or virtual. At SHIP Global IPo we provide a comprehensive industrial and intellectual property management service backed up by thirty years of experience in the industry. We also have an AI- and cloud-based patent management tool that enables us to streamline IP registration processes and maintain full control of a company’s entire IP portfolio.