Business Litigation Lawyer
Under Armour announced that it has reached an agreement with UCLA, ending the ongoing legal battle over the school’s decision to back out of its apparel sponsorship deal with the athletic wear brand, ESPN reported Monday. The Maryland-based company sued UCLA in February after the University of California Los Angeles backed out of its 10-year, $280 million contract with Under Armour in favor of outfitting athletes in uniforms made by Nike, according to ESPN and other news outlets.
The Long and Short of the Case
Under Armour and UCLA have finally settled their apparel sponsorship deal after months of litigation. Under the terms of the settlement, Under Armour will pay UCLA $675 million to terminate the deal. This is a huge win for UCLA, who will now be able to pursue other apparel deals. The case highlights the importance of having a good business lawyer, as well as the importance of thoroughly negotiating contracts. For example, when this contract was originally negotiated, it stated that either party could terminate it in the event of a material breach by the other party. However, this term wasn’t defined at all in the contract. What constituted material breach wasn’t made clear until it came time to litigate, which lead to an extended trial period that dragged on for months with no end in sight.
The Settlement Terms
Under Armour has agreed to pay UCLA $6.75 million to settle a lawsuit that accused the company of unlawfully terminating its 15-year, $280 million apparel sponsorship deal with the school. Under the terms of the settlement, which was filed in federal court on Wednesday, Under Armour will also release UCLA from its contractual obligations. UCLA will be free to sign a new apparel deal with another company.
Business Litigation Lawyer
A business litigation lawyer can help you with a variety of legal issues that may arise during the course of running your business. They can help you resolve disputes with other businesses, defend you against lawsuits, and negotiate contracts. If you are thinking about starting a business, or are already running one, it is important to have a business litigation lawyer on your side. One of the biggest areas where a business litigation lawyer can help is contract negotiation. Contracts cover everything from how employees will be compensated to how many items you order from your suppliers each month. If a disagreement arises between you and your supplier, for example, a business litigation lawyer will work closely with both parties in order to come up with an agreement that satisfies both parties’ needs without breaking any laws.
Another area where a business litigation lawyer can provide valuable advice is in defending against a lawsuit. There are various ways this might happen, such as when another company sues you for patent infringement or trademark violation, but whatever the case may be they will know what steps need to be taken and what questions need to be asked so that your best interests are defended throughout the process. Finally, if you are looking into starting a new business venture it is imperative that you have someone who knows the ins and outs of American law as well as international law by your side at all times; this person could also just happen to be a knowledgeable business litigation lawyer.