Safeguarding Intellectual Property in the Digital Age
In this interconnected world, safeguarding your brand online has become increasingly important. The prevalence of digital platforms and e-commerce has made brand infringement a persistent issue for businesses. This article offers intellectual property legal professionals, brand protection teams, and legal executives valuable insights into effective online brand protection strategies that can help protect their organization’s intellectual property.
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What is Online Brand Protection?
It’s important to be proactive when it comes to protecting your brand online. Unauthorized use of your intellectual property and name can lead to major issues, so it’s crucial to monitor and combat various types of online brand infringement. This includes things like online counterfeiting, piracy, patent theft, domain squatting, email phishing, and social media impersonation. By taking steps to protect your brand online, you can help ensure that your intellectual property remains safe and secure.
Among the variety of infringements, a recent report revealed that the global online TV and movie industry could suffer a significant loss of 51.6 billion U.S. dollars due to piracy in 2022.
Online Brand Protection Strategy
Online Brand Protection Strategy Implementing a robust online brand protection strategy is essential for mitigating risks and preserving brand integrity. Key elements of an effective strategy include:
IP Portfolio Management
It is the careful management and protection of intellectual property assets through trademark registrations, patents, and copyrights.
Did you know that between 2008 and 2018, there was a significant increase in global patent applications, trademarks, and industrial designs? According to the World Intellectual Property Organisation (WIPO), these numbers rose by 72.3%, 159.9%, and 61.1%, respectively. This increase in intellectual property (IP) and intangible assets has become increasingly valuable to major corporations.
In fact, evidence suggests that IP and intangible assets make up 84% of the value of the largest companies in the United States, with only 16% of the value attributed to hard assets. As a result, managing an IP portfolio has become an essential strategy for online brand protection.
Online Monitoring
It involves utilizing advanced monitoring tools to identify instances of brand infringement across various digital platforms. In November 2020, through its vigorous online monitoring efforts, Amazon’s Counterfeit Crimes Unit detected the activities of the two social media influencers for promoting counterfeit goods and filed a lawsuit. Online monitoring also helped reveal and file lawsuit against the companies whose products were being promoted by these influencers.
Prioritization and Threat Analysis
It means assessing the severity of brand infringement cases and prioritizing actions accordingly.
By prioritizing threats and conducting a thorough analysis,organizations can better allocate their resources and take proactive steps to protect their brand from online risks. This approachhelps minimize the potential damage to brand reputation,customer trust, and financial losses associated with online brand abuse.
Data Analysis and Business Intelligence
It involves leveraging data analytics to gain valuable insights, identify trends, and make informed decisions. Unilever utilizes data analytics and business intelligence as an approach to brand protection.
Brand Protection Education
Educating employees and stakeholders is crucial to safeguarding the brand and preventing potential infringements. By providing them with the necessary knowledge to recognize and report any violations, businesses can effectively protect their intellectual property. To this end, in response to the COVID-19 pandemic, brands such as Philip Morris, Procter & Gamble, and Tommy Hilfiger, in collaboration with the US Department of Homeland Security and US Immigration and Customs Enforcement (ICE), launched a public awareness campaign to combat the trade of counterfeit goods. Additionally, the US Internal Revenue Service (IRS) frequently reminds citizens that they will never request certain personal information via phone calls, as a way to combat common IRS scams. These examples serve as a reminder of the importance of educating individuals on brand protection.
Community Engagement & Support
It is essentially about building strong relationships with customers, brand advocates, online communities, and government agencies to foster trust and gather valuable intelligence.
How Can Hubstream Help You?
Do not fret if you are overwhelmed with the task of finding the ideal brand protection case management system. Hubstream is at your service. Our data-driven case management solution is expertly crafted for investigative teams and tailored to cater to the unique requirements of different industries, including retail, consumer electronics, e-commerce, pharmaceuticals, law enforcement, and government agencies.
With Hubstream, you can benefit from the following:
Streamlined organization and management of investigation data.
A holistic view of your cases, facilitating collaboration among team members.
Insights and best practices gathered from experienced investigation teams.
Automation of repetitive tasks, saving time and improving efficiency.
Our global customer base attests to the effectiveness of Hubstream in providing reliable brand protection solutions. Whether you are a private organization or a public sector entity, we are committed to helping you safeguard your intellectual property.
To learn more about Hubstream and experience our risk-free software, visit our website or contact our sales team at sales@hubstream .net to schedule a demo. Protecting your brand from online threats is crucial in today’s digital age. To ensure brand integrity and reputation in the digital landscape, it is essential to implement a comprehensive online brand protection strategy and use advanced brand protection management software such as Hubstream. By doing so, intellectual property legal professionals, brand protection managers, and legal executives can efficiently safeguard their brand. Stay proactive and stay ahead of the curve with efficient brand protection measures to prevent online infringements.