The Velvet Underground and the Andy Warhol Foundation have reached a very anti-climactic conclusion to their legal rivalry for Andy Warhol’s famous banana graphic.
The story held a great deal of promise for art/law geeks like myself who enjoyed its many complications. However the case has been dismissed following an announcement by the AWF that they have reached “a confidential settlement” with the Velvets.
There are so many questions that remain unanswered:
Who owned the copyright? MGM? the AWF? The Velvet Underground?
Who owns the trademark?
What did the settlement entail? i.e.: who sold or licensed what rights to whom?
I’m guessing we will hear more soon enough, I mean, how confidential can it be? It’s about IP for godssake.