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Insurance Coverage for Trademark Infringement Lawsuits
Given the current economic climate, every company in America is looking to minimize legal costs. To that end, companies should be taking a closer look than ever at their existing insurance program as a means to cover legal fees in areas that they may not have considered previously. Standard liability insurance policies contain, in addition to the well-known bodily injury and property damage coverages, an often-forgotten section known as “advertising injury,” which affords coverage that too many companies overlook.
If a company has been sued for trademark infringement, it likely can obtain insurance coverage under the advertising injury section of its standard business liability policy, and this coverage includes the duty to pay the costs of defense. Insurers generally contend that no such coverage exists because their policies do not contain the word “trademark,” and all too often insurance brokers and corporate risk managers accept the insurers' position at face value and fail to press the issue any further. This is a costly mistake ' even when a case ends with no liability, defending a trademark infringement suit can cost upward of $1 million. Since the majority of cases to address the coverage issues have found coverage for defense costs and liability, companies that choose not to pursue coverage for trademark lawsuits are likely leaving money on the table.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.