Amazon ( AMZN Quick Quote AMZN - Free Report) is leaving no stone unturned to sustain its strong momentum among customers as well as sellers globally. It is coming down hard on counterfeits in a bid to clean up its marketplace. The recent launch of Intellectual Property Accelerator (IP Accelerator) in Europe is a testament to the aforesaid fact. Notably, the program connects entrepreneurs directly with recommended legal firms, which enables them to seek general IP advice as their brands and businesses grow. The service is aimed to help small and medium-sized businesses (SMBs) obtain trademarks, protect their brands, and tackle counterfeit goods. With the latest move, the company strives to deliver an enhanced shopping experience to customers in Europe by delivering authentic products. Thus, Amazon will now be able to offer protection against product counterfeits, which will serve the interests of buyers and sellers in Europe. More on the Headlines
The latest move is in sync with Amazon’s strong efforts to expand the global footprint of its IP Accelerator program.
Launched in the United States in 2019, the company connected thousands of SMBs with participating IP law firms. This resulted in the submission of 6,000 trademark applications to the U.S. Patent and Trademark Office. The latest move makes IP Accelerator currently available in 10 more countries, namely, France, Germany, Italy, Spain, Netherlands and the U.K. We note that the global expansion of the program will help solid traction among sellers and buyers as product counterfeiting is an industry-wide concern due to which many people still hesitate from doing online shopping, especially in developing countries. Notably, there are more than 100 trademarks that have enrolled in the Amazon program across Europe. To Conclude
Even stronger growth of the e-commerce industry due to COVID-19, with consumers increasingly buying things online, is a dynamic going in favor of Amazon. While the big brands may build their online stores over time, a platform like Amazon allows the discovery of new buyers.
Smaller players are far more dependent on Amazon as they don’t have the resources to invest in technology and fulfillment to generate the kind of reach that Amazon can deliver. Amazon’s platform is currently being used by millions of independent sellers. Therefore the company is making all efforts to protect and support small businesses. Apart from Amazon IP Accelerator, the company’s Amazon Counterfeit Crime Unit, Amazon Transparency, Amazon Brand Registry, and Project Zero are some more developments in an effort to deliver authentic products to customers and protect sellers’ intellectual properties. The launch of IP Accelerator in Europe is the latest effort taken by the online retail giant to battle the situation.This remains noteworthy and is expected to continue driving Amazon’s customer and seller momentum in the near term. Zacks Rank & Stocks to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include
Marchex ( MCHX Quick Quote MCHX - Free Report) , Overstock.com ( OSTK Quick Quote OSTK - Free Report) and Maxim Integrated Products, Inc. ( MXIM Quick Quote MXIM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Long-term earnings growth for Marchex, Overstock.com, and Maxim is currently projected at 15%, 20% and 10%, respectively. The Hottest Tech Mega-Trend of All
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