iffany & Co hit the headlines in August when it secured almost $20 million in damages from Costco, who was selling diamond ‘Tiffany’ rings in its stores. The long-running legal battle, which has been underway since Valentine’s Day 2013, was described by Potter Clarkson partner, Nick McDonald, in this month’s IP Magazine as “a timely reminder that trademarks can be a business’ most valuable commercial asset”.
In the article, Nick provides an in-depth review of the issues raised in this case, as well as highlighting the key learnings for trade mark owners, which include:
- • Ensure a business’ most valuable marks are effectively registered in appropriately designated countries (particularly where clients are heavily brand-dependent, as Tiffany & Co is)
• Ensure effective infringement monitoring mechanisms are in place for all registered intellectual property (try not to rely on customer feedback, as Tiffany & Co had to in this case).
The full article
is available on Intellectual Property Magazine’s website.
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