The value of intellectual property to a company is increasing as quickly as the threats to it, according to the Global Fraud Report released by Kroll earlier this month. Counterfeiting and piracy problems are not new, the report found, but they are increasingly important for brand-conscious companies.
Kroll, a global-risk consulting firm, issues a yearly report on fraud issues. That report is followed up with a quarterly focus on a specific aspect of the problem. Intellectual property fraud issues are so widespread that it was chosen as the focus for the most recent report.
In the years that Kroll has assisted companies in fighting fraud, the company said the nature and sophistication of counterfeiting have changed drastically. Consequently, the report found, effective strategies to address the problem also have shifted.
"Twenty years ago, executives at the world's leading luxury brands routinely justified inaction against counterfeiting and piracy because the problem was so pervasive. The thinking at the time was that any person who is going to buy a $100 luxury knockoff is never going to buy the real thing at $15,000. As a result, they rationalized that there was no need to take corrective or preventive measures," said Steven Rucker, executive managing director at Kroll. "Today, the problem has only gotten worse. However, the most forward-thinking executives understand the indelible mark that counterfeiting leaves on the intrinsic value of the original."
John Hardy Ltd. reached an agreement with Kathy Kamei in a copyright infringement lawsuit in California federal court, according to a statement from the company. The agreement stipulates that Kamei will no longer sell the allegedly infringing products. The agreement also included an undisclosed financial settlement. Kamei agreed to dismiss her own pending action for declaratory judgment of noninfringement against John Hardy Ltd. "This settlement is the latest in a series of successful actions by our company to protect against copyright infringement. We are taking every step necessary to protect our rights and will continue to pursue other infringers in the future," said Damien Dernoncourt, president, John Hardy Ltd., in a statement.
A Manhattan federal judge granted Cartier a summary judgment in a lawsuit filed against: Ilan Ben-Menachem; David Ben-Menachem; King Replica; Davids Luxury; Replica Kingdom, also known as Swiss Kingdom; Branded Luxury, which does business as BS Gifts; Vertexo Inc.; Aviv Ben-Menachem; Chana Ben-Menachem; Travel Derech Tslecha, and Avilan Marketing LLC.According to the opinion written by Judge Robert Sweet and filed on Jan. 3, the lawsuit was initially filed on May 23, 2006. The suit was filed against the defendants for allegedly manufacturing, importing and selling watches that infringe on 19 of Cartier's trademarks, including A. Lang and Sohne, Cartier, Dunhill, Vacheron Constantin and Montblanc. The watches were allegedly sold through approximately 15 Web sites. In his opinion, Judge Sweet awarded Cartier statutory damages of $50,000 for each of the 19 trademarks that were counterfeited.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye