For many businesses, intellectual property is their most important asset. It is the one thing that separates the company from all others, and it can allow any business to remain competitive. It is for this reason that any business with intellectual property must go to great lengths to protect it in the form of either a patent or a trade secret.
Businesses in California may want to pay close attention to their insurance coverage, especially if they will be dealing with intellectual property issues. This is illustrated in one case where a company sought coverage from their insurer for a lawsuit that accused the firm of infringing a trademark. However, the insurance company said that its policy did not provide coverage for intellectual property disputes, disclaiming its responsibility to defend the case. The company's case was dismissed after the insurance company demonstrated exclusions in its business liability and technology policies that addressed trademark infringement cases.
Companies in California and throughout the nation most likely have trade secrets that they need to protect. This can be done in a variety of ways including telling employees what they can and cannot share with others. Furthermore, the consequences for sharing protected information should be made clear in an employment contract. In the event that trade secret rights are violated, a company should take legal action quickly.
California-based band Guns N' Roses is suing a brewery in Colorado over a menu item that bears the name "Guns N' Rosé" ale. The band claims the name the establishment is using for its ale creates the false impression that they are somehow associated with it. The brewery at the center of the matter attempted to trademark the name for its product in 2018, which is what ultimately attracted the band's attention.