991119 Monfort Wins Trademark Ruling In KoreaNovember 4, 1999Chicago - Beef company Monfort, Inc. said the Korean Industrial Property Office (KIPO) confirmed its trademark rights to the Monfort name in South Korea, settling a dispute the company had with a former employee. Monfort had been in a dispute with the employee, who in 1992 filed in Korea for registration of the Monfort trademark in his own company's name, Monfort Korea, Inc., the company said. Monfort, based in Greeley, Colo., is a unit of the nation's second largest food processor ConAgra Inc. (NYSE:CAG - news). The KIPO's ruling invalidates the employee's claim to the Monfort trademark in South Korea, Monfort said. “We placed our trust in an employee who took advantage of that trust,” said David Levine, executive vice president of Monfort, Inc. said in a statement. “This thorough review by the KIPO has set the record straight and delivered a message that this type of business practice will not be tolerated, either in the United States or South Korea.” Levine also expressed regret for the confusion and concern among Korean consumers that has resulted from the trademark dispute. South Korea has been an important market for Monfort since the 1970s. In the early 1990s, Monfort became the first U.S. beef company to establish an office in South Korea. Monfort currently supplies about 10% of all beef and more than 25% of American beef imported into South Korea. The KIPO decision is consistent with Monfort Inc.'s position in a California lawsuit filed against the employees and the company said it intends to pursue legal remedies under United States law.
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