It is son versus father in a contentious business litigation case
Joel Marcus lives in California and happens to be a real estate tycoon who is credited for creating biotech hubs of commercial science lab properties in various regions of the United States. He is founder of Alexandria Real Estate Equities, which has a current market value of approximately $14 billion. Marcus is also currently entangled in a bitter business litigation situation involving his son.
The younger Marcus lives abroad. In fact, he has been developing a new company of his own, which reportedly prompted Alexandria Real Estate Equities to file a lawsuit against him. The claim states that Steven Marcus misused his father's corporation name and logo to help promote a rival real estate company overseas.
Steven Marcus issued a public statement, saying he has never thought it appropriate for family members to sue each other. However, he has filed a counter lawsuit against his father's corporation because, he says, they came after him, so he is going to aggressively and vigorously protect his interests. The 40-year-old claims that he designed the logo and name for his father's company, and he also developed a new finance strategy for the corporation, for which he says he is owed $12 million.
An attorney speaking for the elder Marcus said this type of business litigation is quite common in the corporate world, and the fact that this particular situation involves family members is irrelevant. He also said the company intends to protect its assets as it would in any trademark infringement situation. Business disputes like this one can be quite complex, which is why most California business owners experiencing similar problems choose to rely on experienced legal support to help them protect their interests.