Co-branding, as an innovative consumer model, is increasingly favored by “Generation Z” consumers and has become a preferred strategy for many brands to expand their market reach and achieve widespread recognition. However, with the rapid growth of the co-branding economy, trademark infringement issues related to co-branded products have become more prevalent, posing significant obstacles to the successful execution of co-branding marketing activities. Based on the different legal statuses of trademarks, this study systematically analyzes the various infringement risks that may arise in the use of trademarks within co-branding practices and explores corresponding risk prevention measures. The objective is to provide strong support for the healthy and sustainable development of the co-branding economy.