Copyright infringement is one of the legal skirmishes that exist in the fashion industry. It occurs when one company adopts another businesses’ idea and owns it. This raises a legal challenge because this act interferes with the company’s copyrights that own the original idea. It calls for corporate leaders to ensure that they develop original ideas that distinguish them from others. This exists as one of the valuable ways of gaining a competitive edge in the market.
Costco has been currently involved in a copyright infringement case that has posed a significant challenge to its brand name and image. The company was involved in selling fake ‘Tiffany’ rights (Peterson, 2020). They sold Tiffany’s rights as their original idea. It has attracted a legal battle because Tiffany would be disadvantaged as far as their brand was concerned. The court ruled that Costco pays $21 million for the sale of fake ‘Tiffany’ rights. This legal issue highlights a call for businesses to ensure that they develop original ideas.
I believe that businesses should always come up with original ideas. Consumers will admire and trust them for their originality. A company that takes another’s idea and holds it as their own stand to gain negative perception among potential consumers. For example, Costco might lose a number of its customers due to the lawsuit. This is because clients will develop limited trust and respect for this brand because it failed to abide by copyright laws.
Copyright infringement is a common approach in the fashion industry. The unit incorporates some of the key challenges that fashion brands encounter in the market. The article encompasses a legal battle between two fashion brand companies. Overall, the article aims to educate the audience about the need for businesses to develop original ideas to avoid lawsuits.
Peterson, H. (2020). Court tosses ruling that Costco must pay $21 million for selling fake ‘Tiffany’ rings, in yet another twist in a 7-year legal saga. Retrieved 10 June 2021, from https://africa.businessinsider.com/retail/court-tosses-ruling-that-costco-must-pay-dollar21-million-for-selling-fake-tiffany/nlmrd9b