Social Media Practice Examines IP and Financial Services Issues to Watch in Bloomberg BNA
Ropes & Gray intellectual property litigation partner Peter Brody co-authored “Ten Things You Need to Know About Social Media and Intellectual Property in 2013,” an article on key considerations for businesses to repel intellectual property infringement when using social media. The article also addresses litigation-related issues involving social media, the FTC’s endorsement rules for bloggers, and the America Invents Act’s impact on patent-related social media activity, among other topics. Investment management associate Todd Menszakco-wrote “Ten Things to Know About Social Media in the Financial Services Industry in 2013” on key considerations regarding social media for financial services firms. The January 2013 articles are part of the Bloomberg BNA Social Media Law & Policy Report series on the impact of social media on various industries and practice areas.
Brody writes, “The sheer number of people using social media and the vast amount of content being posted on these sites present unique challenges for the IP owner. How can owners monitor this huge space to make sure their IP rights are not being abused?” They continue, “The solution is for organizations to develop a focused strategy to detect the types of IP abuse that are most important to their businesses, prioritizing detection of the most clear-cut forms of abuse, and to diligently execute that strategy—if needed, with the help of outside services focused on social media infringement in particular.”
Menszak writes, “While social media has the potential to revolutionize communications with investors and clients, financial services firms have, for the most part, used social media in much the same way that those firms have used more traditional avenues of communication, such as print, e-mail, and web communications. A continuing challenge in 2013 and beyond will be identifying appropriate uses of social media that go beyond traditional advertising and branding to the types of communications only social media permits—creating communities within third party sites, facilitating live search regarding the firm, and enabling public customer service, while still complying with the myriad rules and regulations that apply.”
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