Warhol Foundation and Velvet Underground settle

Keurig, Boer Power, Time Warner: Intellectual Property - Bloomberg: " . . .“The parties have reached a confidential agreement to settle the case,” Joshua Paul, a lawyer for the Warhol Foundation, said in a May 28 letter to the judge. The Warhol Foundation, which licenses merchandise based on the late artist’s designs, said that it owned the rights to the banana design he created for the band’s first commercial album. The Velvet Underground and its founders, Lou Reed and John Cale, sued the foundation in January 2012, claiming the band had trademark rights to the banana design, which has become a “symbol, truly an icon” of the group. The case is Velvet Underground v. Andy Warhol Foundation for the Visual Arts, 12-0201, U.S. District Court, Southern District of New York (Manhattan). . . ." read more at link above

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