Sterling Bank PLC Advert of July 20 2018: A Study in Trademark Law, Unfair Competition, and Comparative Advertising.

Abstract

For enhanced commercial presence, maintenance of good public image and identity, Nigerian banks like other businesses and service providers invest heavily in their brands. These brands, often registered as trademarks, have become sources of commercial magnetism through which they compete and communicate the desirability of their services to customers and potential customers. On Friday July 20 2018, Sterling Bank PLC launched an advert campaign that poked at the brands of its competitors in Nigeria. It apologized five days but this article notwithstanding brings to the fore the trademark and unfair competition law issues raised by the advert. Apart from taking on the issue of whether Sterling Bank infringed the trademark rights of its competitors in its advert, it also considers the issues of trademark dilution and unfair competition. Relying on relevant authorities, this article argues that Sterling Bank PLC’s brand campaign amounts to comparative advertising and may also be in breach of the trademark rights of its competitors. This, in the writer’s view necessitated the apology of July 25 2018. This article in concluding argues that businesses must take seriously the role their trademarks and that of their competitors play in giving them competitive edge in the market. Therefore, when designing advert campaign, the effect of such campaign on the services and brands of competitors should be given some consideration.