Last year, Demand Media purchased Saatchi Art, which sells artwork online. Now Skate’s Art Market Research, which is owned by the same parent company as ARTnews, has looked through Demand’s SEC report for the first quarter of the year, and reveals that Charles Saatchi is suing Demand over its use of his name. From the report:
Mr. Saatchi is seeking a permanent injunction restricting Saatchi Art from continuing to use the “Saatchi” name, a declaration that the IP Agreement has been validly terminated, a disgorgement of any profits derived from Saatchi Art’s use of the name since the alleged termination date and unspecified monetary damages.
Demand says it will fight the suit. Read more at Skate’s.