Velvet Underground and Nico, the Southern District of New York dismissed the band’s demand for a declaratory judgment that Warhol did not own the copyright. The court held that, because the Foundation signed an unconditional covenant not to sue for copyright infringement, there was no justiciable controversy and the court could not hear the case. Velvet Underground’s trademark claims over the iconic banana are still alive. The opinion: Velvet Underground v. Andy Warhol Foundation Notes: The United States Supreme Court is currently hearing a case directly on point, involving whether a court can retain jurisdiction over a declaratory judgment action when the opposing party submits a covenant not to sue. See Nike v. Already. Trademark interests and copyrights interests are distinct and unique, but these rights often collide. It is important to understand the difference between the two and to have written agreements clarifying both. For informational purposes only. Not legal advice.]]]]> ]]>
Webinar Invite: Michael Hassard joins a virtual panel on Intellectual Property and Smart Contracts – Oct 20, 2022 3pm ET
Firm Associate Michael Hassard will be part of a virtual panel discussion on on Intellectual Property (IP), Smart Contracts, Branding, and Usage Rights. October 20, 2022 at 3pm Eastern. Sign up to attent.