A woman was fined 400,000 dirhams because of a fake trademark
The Abu Dhabi Court issued a judicial ruling a few hours ago, fining a woman 400,000 dirhams because of a fake trademark. The woman contracted with another woman and took her money to equip her shop while granting her the right to franchise the trademark for the store she owned, but she violated the agreement and did not implement it.
A woman was given a 400,000-dirham fine for using a phony trademark in her business.
A bogus trademark resulted in a lady being fined 400,000 dirhams by the Abu Dhabi Court just a few hours ago, according to a judicial judgement that was announced. The lady entered into a deal with another woman, took the other woman's money to equip her shop, and in exchange, granted the other woman the right to franchise the trademark for the store that the first woman owned. However, the first woman breached the agreement and did not put the agreement into effect.
Abu Dhabi court ruling in the trademark case
judgment handed down by the Abu Dhabi court in the trademark dispute, The Abu Dhabi Commercial Court of Appeal ruled to uphold a first-instance court ruling that required the owner of a business with a well-known trademark to pay an investor 400,000 dirhams in addition to a fine of 30,000 dirhams. The owner had contracted with the investor and paid the amount in exchange for granting her the right to franchise the trademark for the store that she owned. The court ruled that the owner must return the money to the investor in addition to being fined 30,000 dirhams. Except for the fact that she breached her obligations and did not implement, equip, and establish the shop, and the court of first instance issued its decision obligating the appellant to pay the respondent an amount of 400,000 dirhams, with a deferred interest on it at the rate of 3% per year starting from the date the appeal was filed, the appellant is obligated to pay the respondent the amount. The deferred interest is calculated starting from the date the appeal was filed. The action will continue until full payment is made, which may not exceed the sum owed as principal, together with compensation in the amount of 30,000 dirhams and costs.
A fictitious trademark agreement causes a woman to lose 400,000 dirhams
A woman loses 400,000 dirhams due to a bogus trademark agreement that she signed, Specifically, the investor took one of the financial institutions to court, requesting that the contract that had been drafted between them be nullified, that the situation be returned to how it was before the contract was drawn up, and that the financial institution be compelled to return all of the money that it had received from the investor, which amounted to a total of 400,000 dirhams and carried a legal interest rate of 12% per annum on the amount. The day that the legal claim was filed, up until the time that it was fully paid, and the sum of 50,000 dirhams, which was to serve as compensation for lost profits and expenses.