Much like a person can have a specific branding, the details that make them who they are, a business has the same branding. The name, a trademark, advertising and any other defining factors make a business. These details link the business to the public, and this is what makes a business thrive. Thus, when another business encroaches on these details, this can cause public confusion and harm to the business. Protecting intellectual property is important, especially when other companies in the industry put it at risk.
What rights does a trade secret holder have when their trade secret has been misappropriated? Depending on the specific circumstances, a Manhattan business owner may be able to seek a remedy in the New York state court system. A Manhattan business owner may also be able to seek a remedy in federal court. This is because of the enactment of the Defend Trade Secrets Act of 2016. This law came into effect in May of last year.
In February of this year, a photographer filed a lawsuit against CBS interactive for using his copyrighted photos. The images appeared on 247Sports, a subsidiary of the media giant that deals largely in collegiate athletics recruitment. The photographer was requesting $150,000 for each use of his images.
Whenever there is a dispute between an employer and employee about the terms of an employment contract, those terms may not only govern the result of the dispute resolution method used, they may also control what dispute resolution method is used. An arbitration clause in an employment agreement may compel the parties to resolve the dispute using binding arbitration.
Business litigation can take many forms, including disputes with customers, suppliers and subcontractors. But for Manhattan corporations, there are other parties who may initiate business litigation, namely shareholders. A shareholder dispute is a common source of business litigation. Recently, a well-known theme park owner found itself the target of litigation in response to allegations that statements made by company representatives artificially inflated the company's stock price.
Over the past several weeks, this blog has provided some basic information about possible legal remedies for when another party is harmfully dishonest in a business transaction. We've talked about fraud and trade disparagement; now we're going to talk about another New York business tort: fraudulent misrepresentation.