Enforcing Your IP Pays Off, One Way or Another
No doubt IP enforcement requires monitoring and it can be expensive, but it pays off. Last week a federal court in Florida awarded Apple Corp. a $77M judgement for the online sale of counterfeit goods on eBay and Etsy. The court awarded $1M for each of the 77 defendants named in the lawsuit. #Apple Corp. is The Beatles’ entity managing the band’s creative material and estate.
The judge highlighted the importance of enforcement with striking clarity: “The award should be sufficient to deter Defendants and others from continuing to counterfeit or otherwise infringe Plaintiffs’ #trademarks, compensate Plaintiffs, and punish Defendants.”
This judgement may lack teeth as far as the defendants is concerned because no money is expected to be recovered from them, but for any licensee a history of effective enforcement by the licensor is key as it sends a clear message to potential infringers. Two weeks before this judgement #Sony Music had secured a license with Apple Corp. to produce creative material related in North America.
Licensing agreements are effective methods to expand your operations, monetize other markets and secure additional passive revenue. Let’s have a conversation!