In a case that might have had far-reaching ramifications for chocolate lovers in California, the famous chocolate mogul, Hershey, claimed in August that a New Jersey company, LBB imports, infringed on their trademark. LBB focuses on high-end chocolates from overseas countries, including England. Hershey filed a lawsuit against LBB alleging a trademark violation but later dropped the lawsuit after LBB agreed to stop importing the brands in question. Sources say that distributors of the specialty confections, most notably Cadbury English-made chocolates, are unhappy with the decision.
When a company in California begins manufacturing a replica of a patented product, the owner of the original patent can suffer a great financial setback. After a patent has been infringed upon, a business could experience immediate profit losses as well as a substantial decrease in value over the long term.
Intellectual property laws help those who have created proprietary works or who possess trade secrets to solely benefit from them. However, there are many parts of intellectual property law that are misunderstood and several myths propagated about how IP law works. For instance, many believe that the holder of a copyright must pursue action against a party that infringes on that copyright.
Business owners and entrepreneurs in California might be interested in learning about the different ways to protect trade secrets from infringement. Trade secrets may be described as information, methods or formulas that provide an enterprise with a competitive advantage. Protecting the rights to this intellectual property is the one of the primary components to a company's ability to sustain success. Breaches in these rights typically occur inadvertently, according to experts, as opposed to retaliation from an employee or competitor.