When a Florida business owner makes use of social media to promote their business or market services, significant legal questions can arise as to ownership of the account and any 'followers' or contacts gained through that account. Without a clearly defined written agreement that pertains to the use of social media accounts and rights to contacts gained from said use, it can be difficult to determine which party 'owns' access to those contacts. The result could be expensive business litigation for both sides, without a clear prediction of which party might prevail in court.
For many Florida businesses, the annual budgeting process focuses on the facts and figures from the prior year. While anticipatory budgeting plays a role in some instances, in many cases there are areas of need that are overlooked. A recent survey suggests that litigation budgeting for royalty disputes and other form of intellectual property protection may be on the rise.
When an individual or group creates an artistic work and then licenses the use of that creation to another party, royalty payments are often the form of compensation laid out in the agreement between the two entities. Royalties often form the base of an artist's income, and many are able to retire or take a new artistic direction due to the stability of their royalty income stream. However, royalty disputes are common in Florida and elsewhere, and a recently filed lawsuit demonstrates just how lucrative royalty deals can be, and how important it is to protect one's artistic property.
Intellectual property rights are a serious matter for companies that develop and distribute new products. When these rights are infringed upon by competing companies, the wronged company is harmed, and business litigation is often the result. Florida readers may know of Cree, the U.S. LED lighting developer. It has been engaged in patent infringement litigation with SemiLEDs, a Taiwanese company that manufactures LED chips and components. It was recently reported that the two have finally agreed to come to a settlement.