Global brands are the new currency, in the rise of multinational corporation that distribute recognizable signs representing branded goods around the world. Brands are not made in packages any more, but in people’s minds. With the advent of the internet, we are talking about a truly global marketplace which incorporates a global consumption ethic.
People scattered around the world are more likely to share common value structures based upon similar exposure to popular culture in the form of trade marks, movies, music, ipods, and other media. An internet culture where brands are the new fundamental building blocks of the new society. “Trade marks law entrenches the global power of the well-known brand, that will ultimately have an impact on social life, creativity and our experience of consumption.”
These brands are the fundamental building blocks of our society, whether they be takeaway food, Italian shoes or American sneakers, icons are bought for what they mean, not for what they do. This is the essence of the “sign”. This brand community is an emerging phenomenon that holds enormous potential as a marketing tool (Brandsworth Licensing). Consumers who have common allegiance to a particular brand can now bond with each other online, and these networks often exist independently of the brands creators. This is powerful market feedback that is hard to ignore. The economic and legal privileges of these multinational brands has been further enhanced by establishment of these institutions managing their domain names spaces. Bowrey makes the comment that “the predatory and often misleading massive overstatement of trade mark registration, mapped into claims to thereby have a prior ‘right’ to a unique internet address, have fuelled suspicions. See Sweeny Legal for more information.