Aequo advises Forbes in AAA arbitration regarding termination of a licence agreement
Aequo advised Forbes Media on Ukrainian law in a licence termination dispute with a Forbes’ former Ukrainian licensee.
The dispute was administered by the International Center for Dispute Resolution (ICDR) under the American Arbitration Association (AAA) Commercial Arbitration Rules. The arbitral tribunal rendered a final award in favour of Forbes, acknowledging its right to terminate the licence agreement due to breach by the licensee. The award was based on the former licensee’s censorship and interference with independent journalistic principles.
According to the arbitral award, Forbes acted reasonably when it terminated the licence agreement in view of the former licensee’s failure to preserve the integrity and editorial independence of Forbes Ukraine. The arbitral award also prohibits the former licensee and its affiliates from using Forbes’ trademarks in any manner, including in connection with publishing a magazine in Ukraine and maintaining the website. All the former licensee’s counter-claims against Forbes were dismissed.