Piracy Paradox- Intellectual Property Right’s Grey Space

Abstract

This article looks into Intellectual Property Law's grey pace; which is the fashion industry and delves into why, with such low protection, it is still one of the most profitable industries. It is a substantial area of creativity into which copyright and patent do not penetrate and for which trademark provides only very limited protection. The fashion houses are usually recognised by their brand names and not their designs or in some cases, unique patterns, which are again trademarked. Piracy may be paradoxically beneficial for the designers as even when originators that suffer harm, may not be strongly incentivized to break free of the low-IP equilibrium because, often, they are also copyists. Being a copyist and an originator is relative in this industry. Since clothing is a status-conferring good, with most forms of apparel being “positional goods, induced obsolescence and anchoring is used to turn rapid profits and keep the fashion fast moving.