China Gives Disney Trademark Protection
Nicky West | | Nov 05, 2015 06:10 AM EST |
(Photo : Marsaili McGrath / Getty Images)
China has announced that it will give Walt Disney Co. special trademark protection as the firm prepares to open its first Disneyland Theme Park in China next year.
Chinese authorities will be carrying out a year-long campaign to crack down on counterfeit Disney items.
A statement released by the State Administration for Industry and Commerce (SDAIC) said that the move will "Promote the development of a fair and competitive market as well as protect China's international image for safeguarding intellectual property rights."
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China has been struggling to shake off its reputation for fake items such as fake luxury bags and even knockoff vehicles, both of which have been detrimental to the companies victimized by the growing number of counterfeit items sold in the market, with most coming from China.
Beijing also came under fire after a British tabloid exposed a factory in China that was making counterfeit cosmetics. Some of the brands that were being faked included MAC Cosmetics and products of cosmetic retail giant, Sephora.
Disney will be developing a $5.5 billion theme park in tandem with state-owned Shanghai Shendi Group. The partnership hopes to tap into China's growing economy despite the recent slowdown.
Disney also recently postponed the opening of the Shanghai Disneyland resort until the first quarter of 2016.
TagsDisney, Walt Disney, Disneyland
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