In practice, fashion law involves the application of principles from a number of legal disciplines - in particular, protection of IP, including anti counterfeiting and licensing; commercial operations, including the legal structure of a fashion business, commercial agreements, relevant employment law, marketing and advertising, and retail leasing; and international issues.
At the heart of both fashion law and entertainment law is IP law. However, fashion-related IP calls into play a number of specific principles not encountered in the entertainment context. While copyright issues are prevalent in the entertainment context, trademark issues are characteristics of the fashion industry.
IP is fundamental to the strategies of most large fashion companies. Fashion companies are able to charge a premium for their products to the extent that they have created brand value. Thus, an ordinary T-shirt sold as a commodity (i.e., unbranded) would not fetch more than 10$ in today's marketplace, regardless of its quality. However, a T-shirt by Valentino may sell for $750. Brand value - another way of saying IP - is extremely expensive and difficult to acquire. Once fashion companies have brand value, they wish to keep and control it, and that is the job of their legal counsel. Most general counsels at major fashion companies began their legal careers as IP specialists.
