"Where money issues meet IP rights". This weblog looks at financial issues for intellectual property rights: securitisation and collateral, IP valuation for acquisition and balance sheet purposes, tax and R&D breaks, film and product finance, calculating quantum of damages--anything that happens where IP meets money.
Tuesday, 1 July 2008
EBAY fined £31million for counterfeits
It is not often that an IP related case steals the front page of London's popular free daily Metro paper but Ebay have done just and scooped headlines across the world. The well known auction site eBay has been fined £31million for selling fake Louis Vuitton goods online. The French fashion house took eBay to court for selling a range of fake luxury bags, clothes and perfumes. A Paris court ordered the internet giant to pay damages to Louis Vuitton and barred eBay from selling perfume brands Christian Dior, Kenzo, Givenchy and Guerlain, also owned by Luxury goods firm Louis Vuitton Moet Hennessy. eBay bosses have apparently said that they plan to lodge an appeal. The court also warned eBay that they face a daily £40,000 fine if they run adverts for the perfume and cosmetic brands. French courts have long been in favour of brand holder's rights and a number of brand holders have used the French system to enforce their trade marks and related IP but none it appears on this scale, not only for the potential legal effect of the decision across world but also for the amount of damages awarded. If anyone has a copy of the decision (in English preferably) please send it here.
Posted by Darren Olivier at 11:26:00
Labels: award, counterfeiting, ebay
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