Founding Principals Brian Buss and Doug Bania spoke on panels at the 2022 International Trademark Association (INTA) Annual Meeting, the world’s premier intellectual property conference at the end of April.
Doug’s discussion on the panel “Right of Publicity: The Life and Times of a Professional Football (Soccer) Player” focused on the life of a fictional female soccer player from high school through college, the World Cup, eventually her professional soccer career, and then into her post-career life and death. Topics covered included basic publicity rights and emerging issues (i.e., NFTs, fantasy leagues, sports betting), the liability and damages associated with misuse of name and likeness and rights of publicity, First Amendment issues and international publicity rights. You can read the article wrap-up here.
As a panelist on “Working with ISO Brand Standards: Brand Valuation and Brand Evaluation,” Brian provided attendees with an understanding of the guidance and requirements established by the ISO Standards through presentation of key elements of each Standard, the challenges and pitfalls encountered by brand valuation and evaluation professionals when measuring and quantifying the contribution of brand assets to financial performance, common brand evaluation and brand valuation procedures and how to interpret brand valuation and evaluation results. You can read the article wrap-up here.
Nevium’s Founding Principals Brian Buss and Doug Bania have been selected to serve on multiple INTA committees for the 2022 – 2023 calendar years.
Along with serving on the Presidential Task Force, Brian Buss was also honored and named as Vice-Chair of INTA’s Brand Valuation and Evaluation Sub-Committee for 2022 and 2023. As a sub-committee of the Commercialization of Brands Committee, Brian’s subcommittee is working to develop webinars, presentations and content on financial analysis, valuation, brand evaluation and trademark infringement damages for INTA’s membership.
Doug Bania was appointed to the INTA 2022 – 2023 Right of Publicity (ROP) Committee. The ROP Committee develops and advocates policy on the right of publicity. The Committee monitors and analyzes developments in treaties, case law, legislation, and implementation in various jurisdictions, and proposes policy recommendations to the Board. Committee work includes writing reports and submissions, interacting with ROP organizations, and advocacy in conjunction with relevant committees and staff.
Bania was also appointed to the INTA 2022 – 2023 Influencers, Right of Publicity Subcommittee. The Influencers subcommittee will focus on influencer marketing and how leading influencers are becoming brands in their own right. The committee will explore case law, legislation, and implementation in various jurisdictions, and proposes policy recommendations to the Board.
Nevium IP Consultants provides solutions for valuing, managing and monetizing intellectual properties and intangible assets. We work with entrepreneurs, corporations, legal counsel and IP owners to analyze and maximize the value of IP assets.
As an innovator and thought leader in the IP Community, Nevium provides intellectual property valuation, IP infringement damages calculations and IP strategic advisory services. We serve and advise IP counsel, litigators, IP owners and business executives.
Founding Principal Brian Buss was recently appointed to the International Trademark Association (INTA) 2022 Presidential Task Force – IP Reporting for Brands. For his role, Buss will collaborate with 10-15 global INTA members to strategize and plan the associations approach to financial reporting for brands and IP.
The INTA is the world’s leading trademark association, and the 2022 Presidential Task Force is faced with the difficult challenge of providing leadership on how companies should report their IP, emphasizing the importance of trademarks and IP to company management, shareholders and other stakeholders.
Influencer marketing has rapidly grown, and it is predicted to be a $5-$10 billion market over the next five years, resulting in more FTC guidelines and punishments when these guidelines are not followed. There is also a growing number of lawsuits over influencers not meeting their contracts. With this in mind, it is even more critical for businesses to know the actual value an influencers’ marketing can provide, and then use scrutiny to decide whether that value is worth the risk.
Using analytical and valuation tools, you can calculate the actual value that the influencer’s marketing can carry. This insight is extremely helpful when determining if a certain influencer is the right fit, and even more helpful when determining any financial damage an influencer has caused. This damage can stem from the brand representative’s image changing, or from influencers with bad publicity supporting your business without your permission. “It can be very risky when you connect your brand with somebody’s personality because we’re all humans,” said Doug Bania, comments. “Some people do good and bad things, so it’s a risk. The hard thing to determine is if the risk is worth the potential reward.”
Influencer marketing no doubt has the potential to help many businesses boost their market reach and boost value, and being able to identify and prove the value of their influence is extremely helpful when making strategic business decisions. Contact Nevium experts for more information on how this process can be done.
The potential for a company to expand its audience or tap into a new market by partnering with social media influencers is becoming increasingly attractive. “But the impact of social influencers can cut both ways,” Founding Principal Doug Bania told Daily News in an interview on the pros and cons of influencer marketing and what brands need to consider when implementing this advertising strategy.
“[Brands] need to be aware that when social influencers engage in bad behavior that makes the front pages, the company can quickly lose face with customers and lose money,” he said. “A brand that took years to build can be quickly forced into damage control.”
According to Daily News, the influencer marketing industry is predicted to grow by as much as $10 billion over the next five years, so it’s clear a growing number of companies are willing to take the gamble.
“When businesses weigh the cost of shifting some of their advertising dollars away from traditional marketing channels into less costly social media advertising, the strategy often makes sense,” Doug commented. “But some people do good things and some people do bad things, so it’s a risk. The hard thing to determine is if the risk is worth the potential reward.”
Doug expects the Federal Trade Commission will impose more guidelines in the coming years regarding social media advertising, as well as punishments if those guidelines aren’t followed. Read the full Daily News article here.