Forbes in Armenia isn't connected to U.S. magazine

Forbes, which last month had problems with its Russian edition, is now battling a business publication in Armenia that is using its name without its permission.

Astghik Bedevian wrote, “Eduard Nahapetian said he was hired by the ‘Forbes’ management to help to stop the publication of ‘Forbes Armenia.’ ‘They have no license or any other authorization to use the name ‘Forbes,’’ he told RFE/RL. ‘‘Forbes’ has asked us to help to stop this abuse.’

“Nahapetian claimed that the publisher of ‘Forbes Armenia,’ an obscure Yerevan-based company called Litsa, has admitted to the copyright violation and is now trying to negotiate a licensing deal with the U.S. outlet. ‘They fully agree with us,’ he said.

“The ‘Forbes-Armenia’ director, Elizabeth Petrosian, declined to confirm or deny this. But she admitted that the glossy magazine has postponed the release of its second issue. Asked whether it will continue to be published, Petrosian said, ‘Time will tell.’

“The magazine’s first issue came out a month ago and was almost exclusively devoted to Armenian politics, containing, among other things, a purported list of the country’s ten wealthiest individuals. It was topped by government-connected businessman Gagik Tsarukian and included six high-ranking government officials, including President Robert Kocharian and Defense Minister Serzh Sarkisian. The latter dismissed the rankings as a fraud, hinting that he believes they were commissioned by Tsarukian.”

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