Business View Caribbean | November 2020

12 BUSINESS VIEW CARIBBEAN NOVEMBER 2020 GUEST SUBMI SS ION presence of budgetary constraints in COVID-19 times, SMEs may find it challenging to deal with trademark infringements on a wide-scale level. At the same time, a strategic approach to trademark infringement is essential, even in pandemic times. For entrepreneurs who have licensed their trademarks (for example, by way of a franchise or licensing agreement) there remains a responsibility to monitor how your trademark is used by licensees and sub- licensees. In addition to this responsibility, trademark licensees also have an obligation to ensure that they take reasonable measures to safeguard the mark against counterfeit uses. 3. Managing Trademarks in Digital Platforms As more of global commerce shifts to digital platforms, trademark owners will likely need to exercise more vigilance in protecting their marks online. Consistency in how the registered trademark is expressed or appears in digital platforms is one essential point to bear in mind. A business that carries on most of its commerce online and expresses its registered mark in variations that are substantially different from what it was registered as, may compromise the continued registration of the mark. Another issue relates to the increased prevalence of cybersquatting cases since the start of the pandemic. Cybersquatting is the bad faith registration of a domain name to discredit or gain from the reputation of a trademark. If not addressed, cybersquatting may lead to the depreciating of a mark’s reputation in its consumer markets. Monitoring how your trademark is used in digital platforms is increasingly integral to the success of a firm’s intellectual property strategy. The Takeaway With budgetary constraints and uncertainties in global markets, it may be challenging for SMEs to implement trademark strategies in all consumer markets. However, it is also in these times that Caribbean SMEs are likely to benefit long-term from a strategic approach to commercializing and managing their trademarks. www.canaanbridgesconsulting.com