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.
For those who may need a refresher, Cariou v Prince, involved photographer Patrick Cariou who sued Richard Prince (the grandaddy of appropriation art, most famous for his re-photographs of cowboys and cigarette ads) for copping a wanton number of photographs from Cariou’s published collection, Yes, Rasta. Prince lost the first round and an appeal is pending.
What captured the art world’s attention, and sharpened thee focus of intellectual property (IP) law experts was the tsunami of speculation that followed the court’s very harsh decision against Prince in which he was ordered to hand over the contentious works to Cariou and to notify all current owners of the essentially cancelled series.
Was this a turning point? Would it have a chilling effect on appropriation art? What was governing these decisions? Were they out of control?