The UK High Court has ordered that Haas F1 Team title sponsor Rich Energy disclose its finances after it lost the right to appeal in its copyright battle against British bicycle manufacturer Whyte Bikes.
Rich Energy became the title sponsor of the American team for the 2019 Formula 1 season with the VF-19 and team apparel adorning its black and gold colours, including the contentious stag’s head logo.
The British-based energy drinks company has been told by the UK High Court that the disputed logo must be removed from all UK business assets by July 18. Haas F1 removed the logos for the Canadian Grand Prix in June and they have not since reappeared.
In May of this year, Rich Energy was found liable of copyright infringement after Whyte Bikes’ parent company, ATB Sales Limited, accused the brand of blatantly copying its logo.
Included in the order is for Rich Energy to pay for the trial costs for ATB which total £35,416, as well as reveal its financial arrangement with Haas, plus report its profits.
“Any sums of money invested in or made available to the First Defendant [Rich Energy], including for the avoidance of doubt sums invested in or made available to the First Defendant in connection with its sponsorship of the Haas F1 Team;
“Any sums of money invested by third parties in any other company or entity controlled by the Second Defendant [Rich Energy CEO William Storey] in connection with and/or pursuant to the First Defendant’s sponsorship of the Haas F1 Team;
“Full details of any sums of money paid or payable to the Haas F1 Team pursuant to the First Defendant’s sponsorship of the Haas F1 Team, indicating in each case whether such sums were paid or payable by the First Defendant or by any other entity;
“An estimate of the proportion of the £50,000 paid to the Third Defendant [logo designer Staxoweb Limited] to produce, inter alia, a logo for the First Defendant which is attributable to the work of designing of a logo as part of that commission, and an explanation of how that estimate was reached.”
Discussion about this post