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OpenText™ "The power of rights management"
Deciphering rights can be a complex nightmare even for the most digitally savvy organization! Companies that have invested in a digital asset management (DAM) platform to gain the ability to categorize, securely share, and organize assets in a very efficient matter, often fail to enforce proper governance on the assets’ usage and fail to maximize the return on investment (ROI) from the assets stored in the DAM system due to a lack of visibility on the assets’ rights. It is not uncommon for digital assets to have multiple contracts associated with them (e.g. – multiple talent releases, a location release, a license agreement for product placement and a license agreement for stock) and each contract may have multi-dimensional usage rights and restrictions. However, it is critical to know with confidence what you can use before and after a campaign is active. Otherwise imagine a celebrity talent photo being misused and leading to a multi-million dollar lawsuit for the company that is being played out in the press!
Unfortunately this is not an unlikely scenario as the $8.9 million jury award to Michael Jordan from Dominick’s super market chain and the more recent lawsuit brought against Chipotle Mexican Grill for $2.2 billion prove. And let’s not forget the story of Grumpy Cat, star of a thousand memes, winning a lawsuit against a coffee company that misused her images. Yet vigilantly protecting your brand is tougher in practice than in theory. As content proliferates and new channels emerge, there are more limitations on how you can use, where you can use and when you can use content. This complexity not only introduces compliance issues, but affects your ROI if you are not using content and your DAM platform to its fullest potential.
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