Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%BNB287.900.44%USDC1.000.01%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

LVMH and eBay Reach Agreement After 6 Years of Litigation

Photo: Ebay Photo: Ebay
Photo: Ebay Photo: Ebay

After Moet Hennessy Louis Vuitton (LVMH) filed a lawsuit at eBay in 2008 over the selling of brand knockoffs, the two have encountered many legal complications throughout the years. However, Reuters reported that an agreement between them has finally been reached, and they have officially settled on a two-way compromise.

“eBay and LVMH today announced a cooperative effort to protect intellectual property rights and combat counterfeits in online commerce. Thanks to the cooperation measures put in place, the companies have settled ongoing litigation,” the two companies said in a press release on Thursday.

The agreement comes as a huge relief to eBay, as it has spent years in court defending the morality of its business. Reuters reported that companies under the LVMH reach, such as Christian Dior, Givenchy and Geurlain, took legal action in 2008 after counterfeit goods were unlawfully sold. LVMH also stated that the illegal vending of real perfumes hurt its business.

Reuters reported that, subsequent to the lawsuit claims and French court hearings in 2008, eBay was forced to pay LVMH 52.1 million. The fine was then reduced to 7.7 million by a French appeals court, but in 2012, the ruling was upheld only for British and French sites, as they did not have authority over the U.S. sites.

Six years later, the two companies have finally reached a deal that will forego any further legal action. Michael Jacobson, Senior Vice-President and General Counsel at eBay, and Pierre Godé, Vice- President at LVMH, said in the press release, “Thanks to our joint efforts, consumers will enjoy a safer digital environment globally.”

 

 


Comment Template

You May Also Like

Business

  Elon Musk helps me understand which laws in America are complex (contract law, possibly copyright law) and which are conventions. If you’re rich...

Technology

ByteDance alleged that the US government would prefer shut down than find a ‘effective solution’ to protect customers. Biden’s April legislation required that ByteDance...

Politics

Donald Trump, a Republican running for president, said Thursday that U.S. college graduates should “automatically” earn green cards so they can remain in the...

Business

Samsung Electronics’ South Korean labor union reported numerous workers striking Friday, the first in the company’s 55-year history. After failed negotiations over salary and...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok