Wealth Strategies Journal: Trademarks have always been an important corporate asset, but these days they can be much more so when they are also internet domain names that attract and direct customers to websites where products are sold. Thus, it follows that a business in distress or in a dispute will naturally try to protect this intellectual property from potential creditors and adverse claimants.
Such were the events in the instant cybersquatting case that primarily involved the trademark “igrip” and related webnames. This and similar trademarks were owned by a German company that was well known under this name for making cell phone holders and like accessories.
The primary debtor, Global Intellectual Brands LLC, sold the German company’s cell phone holders but later defaulted on its financial obligations to the German company, whereupon the German company sued Global Intellectual Brands LLC. So far, so bland.
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