If you haven’t been following the war between the University of Georgia and the University of Georgia Foundation, you’ve missed one of the better battles of the last couple of years.
The long and short of it: The University of Georgia did not renew the contract for the school’s beloved athletic director. The alumni were not happy about this. They retaliated by beginning an investigation into compensation paid to Michael Adams, the University’s president. The University has now begun the process of severing the relationship between the University and the Foundation. This raises all sorts of interesting questions which we will explore in the weeks to come.
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Probably the most interesting question is: What happens to the money in held in the Foundation’s coffers?
One newspaper headline related to this misadventure did catch our eye. Seems the University let its trademark on the name “University of Georgia” lapse. The Foundation swooped in, and renewed the trademark in its name. So has the University of Georgia become “those who we do not speak of by name” from Harry Potter or the “Singer Formerly Known as Prince” from pop music culture?
Everybody is in agreement that the University of Georgia will not lose its name. However, the Foundation certainly has acquired a great negotiating chip that it can use as the larger dispute moves forward.
LESSONS :
The first lesson from this series of events is to make sure your organization has a tickler file that contains an accurate description of all intellectual property rights that require filing or other action to be taken in order to keep them current. Someone should be checking this tickler file on a regular basis.
Lawyers have become much more sophisticated about intellectual property rights during the last two decades. It is no longer unusual to see provisions in agreements that permit one party to use another party’s trade name in connection with a licensing or joint venture arrangement. Nothing wrong with this. But business relationships can go sour. That possibility needs to be reflected in any licensing arrangement.
THE FOREGOING IS NOT AND SHOULD NOT BE TAKEN AS LEGAL ADVICE. IF LEGAL ADVICE IS REQUIRED, THE NON-PROFIT OR OTHER PARTY IN QUESTION SHOULD SEEK THE ADVICE OF QUALIFIED LEGAL COUNSEL.
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