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PUMA secures trademark rights from Spanish distributor
25 Dec '12
1 min read
Sportlifestyle Company PUMA SE herewith declares that the former Spanish distributor and license holder, Estudio 2000 S.A., which owns several PUMA trademark rights in Spain, has been obliged to vest these to PUMA SE in accordance with the decision of the arbitration panel, notification of which was received by PUMA SE on 11 December 2012.
After a dispute lasting several years, this decision will allow PUMA SE to unite all Spanish PUMA trademarks.
According to the ruling of the arbitration panel, the transfer of the trademark rights is subject to a one-time payment of 42.2 million Euros to Estudio 2000 S.A., consisting of various types of compensation related to the termination of the Distribution Agreement which ended in 2009.
Puma
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