Business

FLORIDA BLOGGER WAGES WAR ON STREET GIANT

In a classic case of David vs. Goliath, a Florida entrepreneur is ready to battle Wall Street giant Goldman Sachs over the use of the bank’s name in a Web site critical of the company.

Yesterday, Mike Morgan, of Jensen Beach, Fla., filed a lawsuit in Florida against Goldman arguing the gold-plated banking powerhouse was attempting to muzzle Morgan, who recently launched two Web sites critical of the bank, goldmansachs666.com and goldmansachs13, the latter of which automatically directs visitors to the first Web address.

The sites feature compilations of articles and Web links to blogs that suggest the bank’s deep pockets and its intricate web of Capitol Hill connections has allowed it to outstrip rivals.

And though it’s only been in existence since the end of March, it has managed to grab the attention — and ire — of Goldman’s brass.

In an April 8 letter, Goldman’s law firm Chadbourne & Parke asked Morgan to stop using the Goldman name and “immediately cease and desist from using the mark Goldman Sachs” or face a nasty lawsuit.

The 53-year-old Morgan told The Post that he has no intention of backing down from Goldman or altering the site.

“We’re going to beat Goldman Sachs at their own game,” he said just before filing the lawsuit.

Morgan, who calls himself an entrepreneur and hasn’t worked on Wall Street, added that he’s not some vindictive “blogger in his underwear,” but in fact is trying to marshal sufficient forces through the site to find out what role Goldman “played in the current global economic crisis.”

Goldman said it isn’t taking umbrage over the negative content of the site as much as its use of Goldman’s brand and trademark in a way that it views as harmful.

“We always act to protect our firm. This is not about Mr. Morgan’s rights to express his views; it is about his infringement on our trademark,” said a spokeswoman in a written statement.

It’s not clear how much of a legal leg to stand on either party has.

Gene Policinski, executive director of the First Amendment Center, said the Internet has caused serious legal challenges for firms aiming to protect their brand.

One argument in Morgan’s favor is the doctrine of “fair use,” which essentially means that if the average person wouldn’t confuse Morgan’s Web site for Goldman’s, then he’s within his legal rights to keep the domain name.

“We’re seeing all of copyright law come under question in light of the Internet,” Policinski said, noting that this is uncharted territory from a legal standpoint.