The new partnership represents a milestone in both parties’ investment and efforts to protect brands’ intellectual property rights. The companies have established a joint task force with the purpose of collaborating fully, exchanging useful information, and working closely with law enforcement bodies to take appropriate action against infringers of Kering’s brands identified with Alibaba’s advanced technology capabilities.
Kering and its brands will continue to vigorously enforce their intellectual property rights against individuals and third parties responsible for the production, distribution and sale of unauthorised materials in China and throughout the world, said Kering in a press release.
The agreement reflects the parties’ firm belief that taking proactive measures and using advanced technology will help law enforcement bodies and other relevant authorities address the challenges of intellectual property infringement.
As part of the agreement, Kering has agreed to dismiss the lawsuit filed against Alibaba and Alipay, an Ant Financial subsidiary, in the US district court in New York. (KD)
ALCHEMPro News Desk – India
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