Hip-Hop mogul, Jay-Z and Boston Red Sox' star athlete, David Ortiz could possibly head to court this month over the use of the rap star's 40/40 brand name. Jay filed a suit against Ortiz for allegedly "borrowing" the name of the 40/40 Club and using it for a similar venture out in the Dominican Republic.
According to The New York Post, representatives were locked in negotiations for three-hours yesterday, but could not reach an agreement. I don't think I would have wanted to be in that room. Jay-Z is notorious for being a stern business man, and as a lawyer (in this case), your job is tor protect your client's ASSets.
Judge Richard Berman said the legal eagles attempting to resolve the name dispute did not have "the authority to settle" the matter. However, David Ortiz' long-time manager Mark Walker, noted the amount Jay wanted to settle was "way too much."
According to reports, Jay-Z, who filed the lawsuit in April of 2010, is seeking $5 million for trademark infringement.
The pair also attempted to settle the dispute in June of 2010 without success.
According to The New York Post, representatives were locked in negotiations for three-hours yesterday, but could not reach an agreement. I don't think I would have wanted to be in that room. Jay-Z is notorious for being a stern business man, and as a lawyer (in this case), your job is tor protect your client's ASSets.
Judge Richard Berman said the legal eagles attempting to resolve the name dispute did not have "the authority to settle" the matter. However, David Ortiz' long-time manager Mark Walker, noted the amount Jay wanted to settle was "way too much."
According to reports, Jay-Z, who filed the lawsuit in April of 2010, is seeking $5 million for trademark infringement.
The pair also attempted to settle the dispute in June of 2010 without success.
Good Luck with that bout.
SCREAM @ ME!!!
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