Metaverse can be described as a virtual world where people can interact with each other through digital objects. Metaverse is becoming part of several industries and many brands are using this platform to conduct their business operations. So, the protection of intellectual property is a major concern in the Metaverse, especially the Trademark. Companies should take proper measures while conducting business in the Metaverse. This virtual platform can offer several opportunities, but it also comes with several challenges. So securing intellectual property is necessary to stay competent and also to maintain the brand value in the UAE business market.
Importance of trademark protection in the Metaverse:
A Metaverse can be described as the 3D version of the internet, and it can be used to socialise, work, play, or shop. This virtual space can offer a lot of opportunities for brands, and most of the business is using digital platforms to promote their product. Virtual property for the real estate business is going to be a good strategy. Also, the Metaverse is a good platform for gaming and game development.
It can also be used for industries such as fashion and entertainment. Metaverse consists of digital avatars, non-fungible tokens, and virtual marketplaces. The rapid digital change has led to several challenges regarding IP protection. Another significant concern is that the virtual platform doesn’t have any territorial jurisdiction, and the Intellectual Property has territorial limitations.
Enforcement could become a problem in the metaverse when it occurs in multiple jurisdictions. So, businesses that plan to utilise the Metaverse should register their mark internationally. Another issue is that it will be really hard to identify the infringer due to the decentralised nature of the metaverse. Businesses should trademark their name and logo before entering the virtual world of the metaverse. Companies are using digital versions of their product in the metaverse, so we can see lots of virtual goods in the metaverse.
Lookalike goods or unauthorised replicas can create brand dilution and customer confusion. If a business plans to explore the metaverse, then it should register its mark physically and digitally. Also, frequent monitoring of the intellectual property is necessary to identify potential infringement.
How to secure brand identity in the metaverse?
A trademark is the brand identity of the business because it can differentiate the products and services of a business from those of others. In the metaverse, virtual asset acquisition, ownership, and transfer are done through non-fungible tokens (NFTs). So, the virtual object in the metaverse should be capable of demonstrating the business identity. There could be interactive showrooms in the metaverse with branded products, and these products should not infringe on existing trademarks. The representation of products in the metaverse is virtually done through computer software, and it will digitally represent the products of a business.
To protect the virtual version of the products, businesses should register their trademarks in the software and digital goods categories. So, if a company doesn’t have trademark rights in the computer software or digital goods categories in the metaverse then their brand won’t be protected. The existing trademark rights in the real world won’t secure your brand in the metaverse platform. The new type of goods in the metaverse is a major concern for businesses to secure their products. Metaverses are being implemented in most countries, and not all jurisdictions have caught up with the IP laws in the metaverse.
UAE’s Metaverse Self-Governance Framework (2024)
UAE’s responsible self-governance framework was launched in 2024 as a major initiative to handle the challenges in the metaverse. This framework has established clear rules so that businesses can expand their operation in the metaverse with fewer complications. It is designed to handle the challenges in the metaverse, such as preventing online crime, data protection and privacy, safeguarding sovereignty and cybersecurity, promoting digital well-being, and protecting intellectual property (like NFTs and digital goods).
Choose the best trademark agent to secure your brand in the Metaverse:
Metaverse offers several opportunities for business, along with many challenges. Trademark registration is necessary to safeguard your brand in the metaverse. The challenges in the metaverse are really huge, and due to this, businesses should seek the guidance of IP service providers in the UAE. Jitendra Intellectual Property is the major IP service provider in the UAE. Our professionals can help you secure your intellectual property in the virtual world. We can help businesses with IP registration, monitoring, and enforcement in the UAE.
