Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
IP News
Nike Seeks $150 Million In Sanctions from Six Chinese Banks, and Loses
In 2013, Nike and its subsidiary, Converse, brought suit under the Lanham Act against 636 members of Chinese counterfeiting networks engaged in advertising and selling products bearing Nike's famous "Swoosh," "Jumpman," and Converse Chuck Taylor "All Star" label trademarks. The Defendants never having appeared, Nike was awarded a default judgment of over $1 billion. Much of the Defendants' funds were held in Chinese bank accounts, making it that much harder to collect from them, so Nike's successor-in-interest, Next Investments, LLC, sought $150 million in sanctions against six Chinese banks — non-parties to the underlying suit — (collectively Banks) primarily for the Banks' failure to freeze the Defendants' foreign accounts. A few weeks ago, the Second Circuit upheld a decision of the U.S. District Court for the Southern District of New York refusing to make the Banks pay.
The asset restraint, first ordered early in the underlying litigation as part of a temporary restraining order, stated in relevant part that "Defendants…. and all persons acting in concert or in participation with any of them… are restrained and enjoined from transferring, withdrawing or disposing of any money or other assets of Defendants, or otherwise paying or transferring any money or other assets into or out of any accounts held by… Defendants, regardless of whether such money or assets are held in the U.S. or abroad."
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.