Date: 20-04-2019 by: Banca IP Law Firm
How Sport and Intellectual Property relate to each other?
Innovation and creativity are key drivers in the world of sport. In every sporting field, inventors and creators are working behind the scenes to push the boundaries, creating new opportunities for enjoyment and for athletes to better their performance.
Sport shows intellectual property (IP) in action. Patents encourage technological advances that result in better sporting equipment. Trademarks, brands and designs contribute to the distinct identity of events, teams and their gear. Copyright-related rights generate the revenues needed for broadcasters to invest in the costly undertaking of broadcasting sports events to fans all over the world. IP rights are the basis of licensing and merchandising agreements that earn revenues to support development of the sports industry.
A sports shoe may be protected by several IP rights:
- Patents protect the technology used to develop the shoe
- Designs protect the “look” of the shoe
- Trademarks distinguish the shoe from similar products and protect the “reputation” of the shoe (and the company making it)
- Copyright protects any artwork and audiovisual creations used to publicize the shoe
IP and the business of sport
IP lies at the heart of the huge commercial opportunities offered by the world of sport. IP rights (especially patents, trademarks and broadcasting rights) - and the legal protection they give – help to secure the economic value of sport. This in turn stimulates growth of the sports industry, enables sporting organizations to finance high-profile sports events, and provides the means to promote sports development. Business transactions related to sponsorship, merchandising, broadcasting and media deals are all built on IP rights. The sports industry has a growing impact on the world economy, creating jobs, investing in public infrastructure and mobilizing resources.
Banca IP Law Firm is one of the IP representatives licensed by the National Office of Intellectual Property with its main function of legal representation, consultation in establishing and enforcing IP rights for individuals and organizations. We have an in-depth knowledge and experience of IP practice such as trademarks, industrial designs, inventions, utility solutions, geographical indications, licenses, enforcement rights. We, therefore, are trusted and chosen by FIFA World Football Federation as their legal representative for all IP matters in the Indochinese region.
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