Tension between The Velvet Underground and the Andy Warhol Foundation has now come to an end with both parties coming to an agreement over the shared use of the iconic banana logo employed by both brands.
The exact terms of the settlement are currently confidential so it’s unclear at this point who will emerge as the legal owner of the iconic image. What we do know is that, prior to the agreement, Velvet Underground were demanding that the foundation stop licensing the image, and reimburse them for past licensing.
The Foundation’s rebuttal pointed out that the band had been defunct since 1972 and even though the trademark on the image only applied to operating businesses.
The band originally used the banana logo as the album art for 1967’s The Velvet Underground And Nico and though they may not be together anymore, they were unhappy that the foundation was licensing the image for use on iPad/iPhone covers and other accessories.
A judge recently ruled that the band did not have legal grounds to stop said licensing, pushing both parties to settle the matter on their own accord.
Last year, The Velvet Underground And Nico hit its 45th birthday. The band, initiated by Lou Reed and John Cale, celebrated by reissuing the album as part of a 6-disc package.