Technological advancements in the virtual world continue to impact how intellectual property is created, managed and protected
LONDON, May 3, 2022 /PRNewswire/ — Clarivate Plc (NYSE:CLVT), a global leader in providing insights and trusted insights to accelerate the pace of innovation, today announced a new report, Navigate the changing brand landscape: discover trends, challenges and opportunities through the lens of IP intelligence. According to the report, advances in the virtual world – the emergence of cryptocurrency, the rise of the metaverse, and the growing popularity of non-fungible tokens (NFTs) – have helped propel Nice class 9 (technology, hardware and software) filings from third place in 2011 to second by the end of 2021.
Since the first US trademark application for NFTs was filed in August 2018, applications for associated trademarks soared by more than 9,000% and those for virtual goods or services increased by 250% in 2021, according to trademark research data Clarivate™. Brands of Louis Vuitton1 and Dolce and Gabbana, in Coca-Cola2 and even the Australian Tennis Open,3 are experimenting with NFTs.
The report also finds that despite continued socio-economic uncertainty, global trademark filing activity has increased globally over the past 10and consecutive year. However, there was one notable exception to the overall rise in trademark filing activity in Class 10 (medical and diagnostic devices), which fell 22% last year. This suggests that the flurry of commercial activity in response to the COVID-19 pandemic, particularly for masks or face coverings and other personal protective equipment, may have passed its peak.
Robert ReadingChief Content Strategy Officer at Clarivate, said, “We live in a digital, hyperconnected and technologically advanced world where trends such as NFTs and the metaverse present both unprecedented opportunities and challenges for the creation, management and protection of intellectual property. Through the lens of brand research intelligence, brands and organizations can better understand how to make business and brand decisions with confidence in a rapidly changing brand landscape.”
Other key findings of the report include:
- US trademark applications for NFTs nearly increased sevenfold in the first two months of 2022.
- Interest in the metaverse is leading to a significant increase in inquiries using the term “Meta” and those for trademarks covering “virtual goods/services”.
- Continent China continues to propel global trademark filing activity and accounted for nearly 70% of global filing activity in 2021, followed by United States (5%), India (3%), Brazil (3%) and South Korea (2%).
- Mainland Chinese companies continue to dominate the list of top filers across multiple registers, accounting for five of the top ten filers – Xiaomi, TencentAlibaba, Huawei and Zhejiang Geely.
- Nice class 35 (retail, advertising, marketing and business services) dominated in Mainland China in 2021, following the global trend. The alcoholic beverages sector in Mainland China saw strong growth in trademark filings, with Class 33 (alcoholic beverages excluding beer) seeing a 34% increase and Class 32 (beer and soft drinks) up 13% in 2021.
- Despite a strong start and record year for the United States Patent and Trademark Office (USPTO), filing volume has been steadily declining throughout 2021.
- Continent China was the source of 28% of all trademark applications filed with the USPTO in 2021, an increase of 4% from the previous year. Conversely, trademark inquiries from US addresses fell 3% in 2021.
- The UK Intellectual Property Office (UKIPO) is the world’s fastest growing major trademark registry, growing 31% in 2020 and 38% in 2021.
- South Korea ranks among the top five IP offices in the world, underscoring its importance on the global IP stage. Trademark filing activity at the Korea Intellectual Property Office (KIPO) has steadily increased and recorded a double-digit year-on-year increase in filing volume between 2019 and 2021.
Reading concluded: “Companies continue to face some of today’s toughest business conditions. It is increasingly difficult to make informed brand decisions with certainty and speed to fuel progress and growth. At Clarivate, we empower businesses with essential information and intellectual property management solutions to help them build and protect their most critical asset – their brand. In a world where organizations operate in a borderless, highly competitive and increasingly online marketplace, retaining and safeguarding unique and valuable brand identities will become increasingly critical to business success.
Clarivate™ is a global leader in providing solutions to accelerate the pace of innovation. Our bold mission is to help customers solve some of the world’s most complex problems by providing actionable information and insights that shorten the time between new ideas and life-changing inventions in the fields of academia and government, life sciences and healthcare, professional services and consumers. Commodities, manufacturing and technology. We help our clients discover, protect and commercialize their inventions using our reliable subscription and technology solutions combined with deep domain expertise. For more information, visit clarivate.com.
jack wanDirector, External Communications
1 Clarivate, “Luxury Brands: Recalibrating Brand Strategies for a Changing World”, December 2021
2 The Drum, “5 brands that are already boldly embracing the metaverse”, January 2022
3 CMO, “15 brands are getting into NFT”, January 2022
SOURCE Clarivate Plc