Tiffany sues Costco over fake rings

Tiffany sues Costco over fake rings

In another battle between major corporations, Costco, a wholesaler, and Tiffany, a famed fine jeweler, have entered court proceedings regarding trademark infringement. On August 14, a federal judge ruled that there was, in fact, trademark infringement, where Costco used Tiffany’s name as a way to sell rings that were not legitimate Tiffany brand.

Costco was ordered to pay $8.2 million in damages to the jewelry company. Tiffany is also entitled to an additional $3.7 million in damages from Costco for lost profits. In fact, that cost may be tripled depending on whether statutory damages are also recovered.

Costco had unlawfully sold rings that had Tiffany’s name on them for a lower price than Tiffany would actually sell them for. However, the rings were not genuine Tiffany rings, even though Costco put the brand name on them in an effort to increase sales.

It will be interesting to see whether other companies start coming out against Costco and making claims about additional trademark infringement. If you have questions about how to obtain a trademark or you believe you are the victim of trademark infringement, contact our firm today.

Our firm has over 25 years of experience helping clients through tough times. If you need assistance with any intellectual property, traffic violations, or business law matters, our firm is here to help. It is critical that you pick the right attorney who can protect your rights. Contact The Law Offices of Richard E. Novak, LLC for a consultation.