The Basics About Trademarks in The Metaverse
‘Metaverse’ is the latest buzzword and it’s something that businesses of all sizes are talking about. However, there is a lot of confusion around what the metaverse really is and how it will affect the way businesses operate in the future.
Many have started to question how they’re going to be able to protect their brand in the metaverse too and an increasing number of businesses are turning to our team at Trademark Eagle for advice about trademarks. To help anyone interested in learning more about how trademarks will be used in the metaverse, below we have put together some useful information covering the basics that all business owners should know.
What is the metaverse?
The term “metaverse” was first used in a 1992 science fiction novel written by American novelist Neal Stephenson. Within the story, the metaverse is a virtual world that users could escape to. Although the metaverse Neal Stephenson created isn’t fully developed in the real world yet, experts predict that a similar virtual world will eventually be created. People will be able to spend time in a hyper-realistic virtual world as well as the physical world.
Currently, the metaverse is essentially a 3D model of the internet and it still needs a lot of work. As technology evolves, this virtual world will continue to be developed and eventually become more accessible to people. There isn’t a single gateway to access the metaverse now, but you can immerse yourself in virtual reality by using various VR headsets and there are lots of different virtual experiences available to try.
How will the metaverse affect the way businesses operate?
Experts predict that the metaverse will be the future of everything from working to shopping and it will grow the digital economy significantly. People will be able to purchase products and services in the metaverse and therefore, businesses will operate in the virtual world the same way they do in the physical world. Some world-renowned brands are already starting to do business in the metaverse, and more organisations will likely join them in the next few years. We are certainly seeing an increase in trademarks we are filing for clients, to protect their business in the metaverse.
Do businesses need to get trademarks in the metaverse?
As with the physical world, businesses will need to protect their brand in the virtual world and trademarks will be equally important in the metaverse. Trademark infringement will likely occur in the metaverse in the same way it does in the physical world too, and this is predicted to cause several issues for brands that have worked hard to build a reputation.
As the metaverse remains quite vague and it’s very much still in development, there are no guidelines addressing what businesses should do regarding trademark disputes in this virtual world. It is currently unclear whether existing trademarks will carry any weight in the metaverse, and many specialists are arguing that as more businesses extend their products and services to the metaverse, they should be protected in the same way they are in the physical world.
What should businesses be doing now?
In a few years’ time, it’s likely the metaverse will play a prominent role in everyday life and to prevent any problems concerning trademarks, businesses should start planning ahead. Many big brands across a range of industries are already applying to register their trademarks for the metaverse as they want to ensure their virtual offerings are protected. The Registries have compiled wording to describe products in virtual worlds and this will continue to evolve.
It is highly recommended that all businesses, even small businesses that operate locally, thoroughly review their existing trademarks. Finding out exactly what protection your trademarks provide will help to prevent problems in the future. There are a few classes that are relevant currently, which encompass virtual goods and virtual spaces, and we utilise these for protecting our clients’ trademarks.
If your trademarks don’t provide adequate protection for virtual goods and services, it is beneficial to make new trademark applications for the metaverse. Filling additional trademark applications now will help to ensure you’re ready to start operating in the virtual world and that no other organisation can use your business name in the metaverse.
Getting some professional trademark advice
Here at Trademark Eagle, we understand that the concept of trademarks in the metaverse is quite complex and that most people will need tailored advice, so, don’t hesitate to contact us. Our team of qualified trademark attorneys and solicitors have decades of experience, and we can provide you with the sound trademark and legal advice you need. We specialise in UK, EU and International trademark protection and we can help you to navigate trademark law.
Our main objective is to help business owners search, register and protect their trademarks, and we will do all we can to ensure your trademark journey is as hassle-free as possible. Trademark Eagle’s outstanding customer care sets us apart in the industry, so there is no better company to turn to for professional trademark advice. Feel free to explore our website today to find out more about how we can assist you.