Court Approves Sale of Leo Stoller Trademark Assets to the Society for the Prevention of Trademark Abuse, LLC
In an Order dated August 8, 2007, the United States Bankruptcy Court for the Northern District of Illinois has approved the sale of Leo Stoller's trademark assets to the Society for the Prevention of Trademark Abuse, LLC ("SPTA"). In re Leo Stoller, Case No. 05-B-64075. The chapter 7 trustee is authorized to sell the assets for $7,500 to the SPTA, who "made the only offer for the Assets received within the time period ordered."
Among the assets involved are Stoller's alleged rights in the mark STEALTH. The USPTO recently cancelled 34 registrations for various STEALTH marks owned by Stoller's company, Central Mfg. Co., as reported here.
In his recent comment (here) at the Seattle Trademark Lawyer blog, Lance Johnson, the Director of the SPTA, described the Society as follows:
The Society for the Prevention of Trademark Abuse, LLC was established for the purpose of buying Stoller's IP portfolio, licenses, claims, and all rights in all pending actions. The Society's plan is to convey the marks others may want/need to clear the way for their own applications to proceed, wind up all pending matters in a manner consistent with the known and trustworthy evidence.
Text Copyright John L. Welch 2007