World Trade Centers Association Pleased With Resolution of Investigation by New York State Attorney General Over 1986 Trademark Sale

NEW YORK, Feb. 13, 2015 /PRNewswire/ -- The investigation into the 1986 transfer of the WORLD TRADE CENTER trademark from the Port Authority of New York and New Jersey‎ to the World Trade Centers Association (WTCA) that was initiated in September 2013 by the Office of the Attorney General of the State of New York (OAG) has now concluded. After reviewing the available evidence, the OAG found nothing to suggest that the WTCA or its current or former directors, officers or employees engaged in any unlawful conduct in connection with that transaction.

In consideration of this satisfactory resolution, the WTCA has agreed to pay a lump sum to the State of New York of $184,000, which represents the total amount of membership dues paid by the Port Authority to the WTCA to date, as well as 33% of any future revenues received by the WTCA from the use of the WORLD TRADE CENTER trademark in New York and New Jersey, up to $15,000 a year over the next twenty years. The WTCA, along with the OAG, has requested that this money be paid to the September 11 Memorial Foundation.

The WTCA fully cooperated in the investigation and agreed to these payments in order to resolve the matter for the benefit of itself and the State of New York.  These payments also demonstrate that no revenue received from the Port Authority by the WTCA will be used for its own gain. 

Commenting on the terms of the agreement, Bella Heule, Executive Vice President, WTCA said, "We are pleased this investigation has now been closed.   We look forward to putting this matter behind us so we can again focus on maintaining the integrity of the WORLD TRADE CENTER mark on behalf of the Port Authority and our other Members around the world.

"We join with the OAG in requesting, and we strongly hope, that the WTCA's monetary payments under the agreement will go to the September 11 Memorial Foundation.  Our wish is that the money will benefit an institution commemorating the heroism of people who perished on 9/11, including many friends and family members of current and former WTCA officers and employees.

"The WTCA has spent millions of dollars protecting the WORLD TRADE CENTER trademark, and will continue to do so.  As a non-profit trade Association, we devote our full resources to helping our Members promote international trade and investment through a global network of WORLD TRADE CENTER facilities with integrated services."

About the World Trade Centers Association
The World Trade Centers Association is a non-profit trade association dedicated to promoting global commerce. The Association has more than 300 members worldwide, including the Port Authority of New York and New Jersey.  Members of the WTCA receive numerous benefits through their membership, including: the right to use the WORLD TRADE CENTER trademark; access to WORLD TRADE CENTER facilities in other countries; information, training and certification programs and conferences designed to improve the operation of WORLD TRADE CENTER facilities; traditional and electronic platforms that promote global trade; and access to businesses and trade partners around the globe.  Members of the WTCA include: government and economic development agencies; chambers of commerce and trade associations; academic institutions; convention and visitors bureaus; and commercial developers.

For more information, please visit www.wtca.org  

For media inquiries, please contact:

Louise Harris
Ruder Finn
646-673-7729
[email protected]

SOURCE World Trade Centers Association

Related Links

http://www.wtca.org