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4 July 2022TrademarksMuireann Bolger

Asia firms co-launch metaverse brands service

Two Asia-based firms have joined forces to provide a metaverse brands service aimed at multinationals operating in the region.

Chinese law firm Lusheng and Rouse have jointly created the service to support multinational companies expanding in the digital space, especially in the metaverse.

According to the firms, this launch is in response to the exploding popularity of the metaverse and other digital experiences over the past year, as brands look to keep their audiences engaged and reach new demographics.

The firms unveiled the move on June 30, in a media statement that noted how the global market value for non-fungible tokens (NFTs) reached $25 billion in 2021.

Meanwhile, the European Union Intellectual Property Office reported nearly 1,200 applications for marks covering virtual goods and services filed in the last nine months alone.

Bold new steps

Together, Lusheng and Rouse will support businesses’ commercial, marketing and brand activities in the metaverse.

This initial launch in China by Lusheng, is in response to the increasing appetite of western multinationals for expanding their digital activities in China.

Additionally, it is aimed at supporting companies that need help navigating the strict regulatory environment in China, following the ban of cryptocurrencies in September last year and the enactment of the Personal Information Protection Law.

Commenting on the launch, Jeremy Newman, CCO of Rouse, said: “We want to empower multinationals with the knowledge to make smart business and marketing decisions. This new service will add to our existing offerings for clients’ working in the digital, marketing and advertising fields, giving them the counsel and legal support they need to take bold new steps.

There are many legal questions, he explained, for brands to consider when embarking on new digital experiences, ranging from whether or not to file a trademark through to how they can best navigate compliance and enforce their rights in different regulatory environments.

“The fast-evolving digital world is bringing new challenges for brands, and we’re delighted to be working alongside our strategic partner Lusheng to launch this service and support businesses expanding in this area,” he said.

Playing IP catch-up

“With new technology trends emerging, brands are eager to keep expanding their activities in the digital world, offering unique experiences to their consumers and leveraging different revenue streams. As they do, it is critical for IP  to be included in their decision-making,” said Ling Jin, head of digital and commercial at Lusheng.

The main challenge for companies hoping to expand in this area, she cautioned, was that IP regulation is still catching up with the latest digital developments. “This means there are key variations between markets and grey areas that businesses can face when trying to launch new services or campaigns and enforce their brand rights.”

This new service, she added, will help multinational companies navigate this challenging and evolving landscape, so they can reap the rewards without “exposing their brand or creations”.”

The move also comes after IP consultancy Brandit became the first European IP firm to announce plans for a metaverse office.

Chinese regulation

The service launched by Rouse and Lusheny will offer end-to-end digital IP support to multinationals, including the building of digital strategies and alignment of IP with commercial strategies, through infringement detection, enforcement and dispute resolution.

According to the firms, the service will also provide advice on regulations for NFTs and the implications of personality rights for digital avatars, as well as broader digital issues like personal data protection and the transfer of cross-border data.

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