Tuesday, May 31, 2011

Renault Lotus and Team Lotus to continue Racing

The British High Court has declared that Group Lotus has the right to use 'Lotus' in F1. Group Lotus is the sponsor of Renault Lotus GP.

Justice Peter Smith found that the Proton subsidiary has goodwill associated with the name 'Lotus' in F1 and is free to compete in the sport under that name using the Lotus roundel. Also, Group Lotus trade mark registrations are unaffected and Group Lotus has the right to use the Lotus marque on cars for road use.

The judge also decided that 1Malaysia Racing Team Sdn Bhd, the owners of Team Lotus, is in breach of the Licence granted to them by Group Lotus to race in F1 under the name Lotus Racing (the name it used last year) and has awarded Group Lotus damages in respect of that breach.

However, the above concerns the name 'Lotus'. Team Lotus has the right to continue to race in F1 under the name 'Team Lotus' with the 'Team' in it.

Team Lotus would be able to continue using the Lotus name in F1 and confirmed Fernandes as the owner of the Team Lotus name having bought the rights to the name from Hunt; they also have the right to call their cars "Lotus", under the terms of a 1985 agreement between Group Lotus and Team Lotus.

Fernandes is happy that he can continue to race his cars under 'Team Lotus'. “Now our main aim is to build on the solid foundations that has made Caterham Cars the model for how to run a profitable contemporary car company and add more history to the incredible story of Team Lotus over the coming months and years and with the people, spirit, passion and determination we have in both businesses we know that marks the next stage in our incredible story,” Fernandes said.

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