Trademarks are an important aspect of a business. When a business licenses its Trademarks can make millions of dollars for an organization.
The Olympics use its marks as a valuable right that commands top dollar from global corporations. Part of that value is in the scarcity of the right—only the IOC’s top-tier global partners are allowed to use those marks,
That top tier currently consists of 15 companies, including Coca-Cola, Visa, Toyota, Alibaba, and Intel. From the four-year cycle from 2013-2016, the IOC brought in $1.03 billion from those marketing rights, making it the second-biggest revenue bucket, behind $4.16 billion from broadcast rights.
The US Olympic Committee (USOPC) has sued Puma for trademark infringement, alleging the sportswear company has ‘declared war’ on Olympic trademarks.
The USOPC filed a complaint with the US District Court of Colorado on Tuesday, February 23, 2021, claiming that Puma is causing confusion among consumers surrounding sponsorship for the delayed Tokyo 2020 Olympic games.
What effect does using an organization’s Trademark without licensing cause the company? Why do companies do this? Why do companies protect their Trademarks?
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