What’s In A Name? $4bn Maybe
What’s in a name, you ask? Well you might well ask John McAfee, pictured, the creator of the eponymous anti-virus computer software.
He has just settled a long running lawsuit against Intel over his right to use his name on projects after the chipmaker bought his former company.
John McAfee sued after Intel warned him that using his name, even by renaming his digital gaming and cyber-security company “John McAfee Global Technologies,” would infringe its trademarks.
Intel countered, accusing McAfee of trademark infringement and unfair competition, and sought unspecified damages.
Under the settlement McAfee has agreed not to use his name or trademark it in connection with cybersecurity and security-related products and services. He retained the right to use it in advertising and presentations, including his former role at McAfee Associates, which he sold to Intel in 2010 for a cool US$7.7 billion.
Both parties said neither admitted wrongdoing and the settlement was said to be “amicable”, as you might expect given Mr. McAfee’s handy way with shotguns and other weapons.
Intel retains a 49 percent stake in McAfee, the company, which is valued at $4.2 billion including debt.