Caught your attention, right? What in the world does Fashion, Food, Football and Finance have in common? And why are you reading about it on the Fashion Law Blog?
Well, all four industries are thriving, despite having very little intellectual property protection. They are also covered in Professor Kal Raustiala and Professor Christopher Sprigman’s new book, the Knockoff Economy (along with Magic and Comedy),
As you all know, there are those in the Fashion Industry claiming fashion designers need copyright protection, and you, faithful readers of this blog, know we are vehemently against such legislation, calling it the Destruction of Affordable Fashion Act.
In the Knockoff Economy, you will see studies that show in the past several years, high end fashion designers – those most vocally in favor of the new laws – have realized increased sales and increased profitability. So, the authors argue, why change something that isn’t broken?
Oh, and let’s compare fashion to the music industry for a sec. The music industry has been given heightened intellectual property protection in recent years. Now look where it is….facing the largest losses ever seen.
Is that the path fashion should take? Nah…..Remember we innovate and set trends.
ps — the book would make a great holiday gift. You can buy it here.