Metaverse – Intangible assets, more intangible than ever
By Mariel Chichisola y Abril Neiman.
Although for several decades we have experienced continuous technological developments, there is one in particular that stands out as the great revolution of this generation: the metaverse.
Probably at some point, we have all heard about this new phenomenon; however, there is still a lot about it that is unknown to us. For this reason, and because of the importance of this novelty, in this article, we will try to explain what the metaverse is and how this “new universe” affects us regarding the protection of intangible assets.
As in the science fiction film The Matrix, the metaverse creates a parallel universe that is not ruled by the physical and economic limits that we know, but is interpreted as a metaphor for real life. The metaverse allows us to create our own avatars to interact in cyberspace. The idea of this invention is to find an environment where humans can carry out our daily activities, such as communicating, dressing, working, playing, etc., through our avatars.
Now, you’re probably wondering where intellectual property comes into all this. First, as usual in the face of all great developments, it is necessary to slow down, think and assess how we are going to protect intangible assets. Big companies like Meta or Microsoft are already one step ahead in the protection of their intangible assets in this new universe. In addition to registering their products so that they can be used and marketed within this new universe, -as many well-known brands are starting to do- these two companies are among the few that currently offer products that introduce people to this new reality, such as the entry glasses to the metaverse.
Second, perhaps a less obvious aspect, the metaverse, as already mentioned, considers itself a parallel universe, and as such, comes to set its own rules. As we have seen in recent years, the Internet and virtuality have opened up multiple opportunities in our profession to discover lawbreakers. However, they also brought countless challenges. One of them: locating the infringer, who is only found on the network. The same is already happening in the metaverse; even more so since the same terms of territoriality do not exist. It is vital that we are alert and constantly learning to solve and find creative solutions to the new challenges that technology presents us.
As mentioned above, our avatars will be able to perform day-to-day activities just like we do in the real world. That is why several renowned industries and trademarks are already in the metaverse offering their products and services. For example, the fashion industry is already present and very active in this new virtual reality. Multiple renowned clothing and accessory trademarks have already been filed with the Trademark Offices of different countries to offer their products and services virtually. An example is Nike, which has already registered its trademarks as NFTs (Non-fungible Tokens) to market in the metaverse; meaning it is going to offer its clothes and footwear in another reality. Even very interesting combinations between the virtual world and the real world are already happening: my avatar could buy Nike shoes or even a McDonald’s combo in the metaverse, and then receive it at home in the real world.
Taking the current legislation, we can reach trademark protection on intangible assets in the metaverse only if it is interpreted extensively. The classes that emerge from the Nice classification do not establish, for example, footwear in the metaverse or virtual footwear, and the same happens with all the products and services to protect. For this reason, each trademark must be registered not only in the class that would fit in this reality, but also as software, to achieve its protection in the metaverse. For this protection to work from an extensive interpretation, judges and examiners will have to consider these new circumstances and leave aside the traditional interpretation. In any case, this new market, one that is already showing challenges, will create new legal conflicts that will demand new laws and pacts that allow this new reality to expand and give it the protection it deserves.
For all the mentioned above, and considering that the metaverse is the new technological revolution of this generation, companies must be prepared and have a strong protection strategy regarding the intellectual property of their assets offered in the metaverse. Considering not only the protection of its assets but also its position against competition and possible infractions within this new reality. It would go far beyond the purpose of this work to delve into enforcement issues applied to this new phenomenon, since the purpose of this first article on the subject is to provide the most important aspects of what the metaverse is and to get closer to the protection of intangible assets in this framework. There will be more opportunities to delve into very interesting cases of enforcement that are already taking place today.
Of course, all this entails legislative gaps and many challenges for those of us who exercise the profession of protecting the intangible assets of our clients -now much more intangible in the metaverse-.
For further information please contact: mchichisola@ojambf.com.
