In this Christmas season report:
Nike vs Adidas has some popular, upscale sneakers from Pharrell and Stella McCartney on the legal radar.
Plus: If your employer fired you in December like the CEO of Better.com did his employees, would you survive? Is it time to look out for your best interests?
Finally, from innovative tax prep business strategies to a smartphone business model that pays you pack, brothas and sistas are making moves in business.
In our network I know there are some brothas and sistas who like to customize sneakers and clothing, making a decent amount of money doing so. But this case should be a wake up call that some brands may pursue legal action if they feel their patents have been infringed on by customizations or any kind of modification that is too close for comfort.
Nike’s latest legal move could cost Adidas $800 million annually in sales of Ultraboosts, Pharrell Williams sneakers, and other Primeknit shoes
If you haven’t heard lately, a nearly 10 year battle between Nike and Adidas has spilled over into a US District Court as Nike has been aggressively defending certain patents against Adidas, among other alleged copycats.
Adidas has launched some highly touted celebrity backed sneakers with the likes of famed music producer and hotel entrepreneur Pharrell Williams and well respected fashion designer Stella McCartney. Even controversial rapper Lil Nas X has felt the pressure from the Nike sneaker wars earlier this year with his Satan sneakers being accused of infringing on Nike’s patents. Famed shoe brand Skechers also had to settle out of court.
Watch the rest in the video!
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Nike Latest Legal Move Could Cost Adidas $800M in Primeknit Shoe Sales (businessinsider.com)
Nike, Inc. v. adidas AG et al 3:2021cv01780 | US District Court for the District of Oregon | Justia
I Wasn’t Fired in Better.com’s 900-Person Layoffs. I’m Terrified. (businessinsider.com)
Better CEO Vishal Garg Explains Major Layoffs in Leaked Meeting Video (businessinsider.com)
Black Woman Who Built Her Tax Preparation Business to $250K in Annual Revenue is Now Teaching Other Aspiring Entrepreneurs (blackbusiness.com)
Minority-Owned Tech Company Launches The First Smartphone That Pays You Back for Everyday Use (blackenterprise.com)