Barker & Cook issued the following announcement on March 21.
In an attempt to overcome extended periods of financial strain, many companies in Florida and elsewhere may choose release a new line of products under a brand name that previously proved profitable. However, should the owner of this brand feel that this act is in violation of a previous arrangement, it may wish to protect its interests through litigation. Stanley Black and Decker has recently filed a breach of contract lawsuit against Sears after accusing the company of trademark infringement.
According to reports, the incident began when Stanley Black and Decker purchased the rights to the Craftsman brand in 2017 after Sears began experiencing dire financial hardships. Following the purchase, the company reached an agreement to allow the other party to continue selling Craftsman products to customers. However, Stanley Black and Decker says that Sears recently began a campaign promoting a new line of Craftsman tools that could confuse customers.
Stanley Black and Decker asserts that this new campaign is in violation of the agreement between the two parties. The company claims that the incident could cause irreparable harm to its reputation. Stanley Black and Decker also asserts that it could mislead consumers into thinking that other Craftsman products are somehow inferior to those available in Sears stores.
With a great deal at stake, companies who encounter breach of contract disputes may wish to know more about each of the available options to protect their legal rights. Those who face similar issues could find it beneficial to retain the services of an attorney early on for guidance on how best to handle the situation. An attorney can help a client in Florida better understand what to expect from the process and assist in protecting his or her interests through the proper outlets.
Original source can be found here.