Commentary
Goldman Sachs: Bogus Legal Theories In Gripe Site Fray
- by Wendy Davis , Staff Writer @wendyndavis, April 13, 2009
But little things like legal precedent aren't about to deter investment bank Goldman Sachs from attempting to shutter a gripe site. The bank's white shoe law firm, Chadbourne & Parke, recently demanded that the founder of GoldmanSachs666.com cease and desist publishing the blog. Instead, site creator Mike Morgan blogged about the demand and posted a copy of the letter.
In it, the bank's attorneys raise a host of bogus legal theories, including trademark infringement and unfair competition. You don't need a law degree to spot the problem: Goldman Sachs the investment bank and GoldmanSachs666.com don't compete for business.
Companies can legitimately complain when their trademarks are harnessed in a confusing way. Goldman Sachs did win one case in the past, but that dealt with the Netherlands-based adult site Goldmansex.com -- which the National Arbitration Forum found was potentially confusing to Web users.
Here, it's not even plausible that unsuspecting readers will be duped into thinking the investment bank is connected to the site, which carries headlines like, "Did Goldman Sachs Scam the System with AIG?"
Certainly, if there was any doubt, the disclaimer at the top of the site should resolve the issue: "This website has NOT been approved by Goldman Sachs, nor does this website have any affiliation with Goldman Sachs," states the note. "This website was designed to provide information about Goldman Sachs direct from the public, and NOT from Goldman Sachs's marketing and public relations departments. You may find the Goldman Sachs website at www.goldmansachs.com."
Regardless, Morgan is prepping for a legal battle with Goldman Sachs. "Needless to say, we will most likely fight this one in court with Goldman Sachs, and now we will expedite adding relevant content to this website," he writes.
Wendy Davis is a Senior Writer at MediaPost. You can reach Wendy at wdavis@mediapost.com
I think Goldman-Sachs has taken leave of its senses. Or more likely, they listened to their attorneys when they should have listened to their public relations people.
Although they have done is turned what could have been a minor brew-ha-ha into a major confrontation.Goldman has made itself look like a group of petulant bullies. They will never win this fight - either in court or in the court of public opinion.