Big Law

Ferrari Lost Trademark Rights to Most Expensive Car

Italian supercar maker Ferrari has lost the trademark rights to the world’s most expensive car and arguably the most iconic car in its storied history, the 1962 Ferrari 250 GTO.

Though the Ferrari 250 GTO only cost US$18,000 in the United States when they were new, one of them set a new record for the world’s most expensive car in 2018 when it sold privately for US$70 million.

Ferrari lost its trademark to the shape of the 250 GTO by falling foul of the European Union Intellectual Protection Office’s (EUIPO) “Use It Or Lose It” rules.

The rule, which Ferrari itself has used in litigation against other companies and even charities, was aimed Ferrari’s way in a retaliatory action by custom coachbuilder Ares Design.

Read the source article at forbes.com

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