What is the first step in protecting a luxury brand?

• Registering the brand name and logo

• Lowering prices to attract customers

• Selling products in multiple regions

• Reducing marketing costs

What is the duration of a trademark registration before renewal is required?

• 1-3 years

• 5-10 years

• 20 years

• Lifetime

Why is brand registration crucial for luxury brands?

• To prevent unauthorized use of their name and logo

• To lower production costs

• To sell more products

• To increase affordability

What is the biggest threat to luxury brands in legal protection?

• High production costs

• Counterfeit products and brand imitation

• Increasing demand for luxury goods

• Competition from budget brands

Which luxury brand faced a legal battle in Mexico due to unauthorized brand registration?

• Cartier

• Chanel

• Rolex

• Prada

What is a common legal measure to fight counterfeiting?

• Filing lawsuits against fake product sellers

• Lowering prices to compete with counterfeiters

• Allowing counterfeits to enter the market

• Stopping luxury production

What is one impact of counterfeiting on luxury brands?

• It increases exclusivity

• It dilutes brand value and reputation

• It makes luxury goods more affordable

• It reduces demand for real luxury products

What is a legal action luxury brands take to protect their intellectual property?

• Ignoring counterfeit markets

• Increasing production to outcompete fakes

• Registering trademarks globally

• Selling low-cost versions of their products

What is the role of government in stopping counterfeit luxury goods?

• Encouraging fake goods

• Enforcing intellectual property laws

• Reducing penalties for counterfeiting

• Promoting counterfeit markets

How does counterfeiting affect consumer trust in luxury brands?

• It increases demand

• It lowers brand credibility

• It has no effect on trust

• It makes luxury brands stronger