By: Mark R. Malek
As you may know, after a New York landmark, Tavern on the Green, went into bankruptcy, one of it’s biggest assets, its trademark, became the center of attention. According to this article, a United States Bankruptcy Court has approved a settlement regarding the dispute over the trademark. The dispute arose between the City of New York and Tavern on the Green Limited Partnership. I am not too sure what the claim that the City of New York made to the trademark, but I suspect it was to collect past taxes that were not paid and were probably to be discharged in the bankruptcy proceeding.
Under the settlement, the City of New York will own the Tavern on the Green trademark, and will have the right to license the trademark. Therefore, another company will likely try to reopen the restaurant and pay a license to the City of New York to use the name. The City of New York will receive 25% of the proceeds from any sale of the name.
The Tavern on the Green is a very famous restaurant in New York. It was opened in 1934 in Central Park. It became so famous over the years that it became the premier destination for many of New York’s most prestigious events including Broadway openings and charity events. This was an interesting case to me because it was the first time (for me at least) that I had ever seen a municipality be interested in a trademark in order to repay a debt.





