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National & World Ag News Headlines |
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USDA Okays Payment for Use of 'Other White Meat' Slogan
USAgNet - 04/25/2016
Based on its review of the value of the four trademarks that were the subject of the 2006 asset purchase agreement between the National Pork Board and the National Pork Producers Council, the USDA's Agricultural Marketing Service is approving continuing
annual payments by NPB to NPPC under the terms of the 2006 agreement.
According to Feedstuffs magazine, AMS's review arose out of a 2012 lawsuit filed by The Humane Society of the United States challenging USDA's approval of the agreement and annual payments. In December, 2015, HSUS and USDA entered into a
stipulation agreement whereby HSUS dismissed the parts of its complaint seeking that USDA recover the funds already paid to NPPC under the agreement. USDA agreed to review the agreement and payments consistent with its own independent judgment
and authority.
As part of its review, AMS directed NPB to contract for an independent expert to provide a current valuation of the trademarks. Stout Risius Ross conducted the valuation and accepted input from both HSUS and NPPC, ultimately finding that the value of the
trademarks far exceeded the purchase price for the trademarks and the remaining principal balance under the agreement. Therefore, AMS is approving the continuing payments under the agreement.
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