1. This case presents an important and recurring question concerning the remedies available for federal trademark-law claims under the Lanham Act, 15 U.S.C. § 1051 et seg. The Lanham Act authorizes a court to order (inter alia) disgorgement of a "defendant's profits," "subject to the principles of equity." Id. § 1117(a). For more than a century, this Court has held that traditional principles of equity generally restrict profit-disgorgement recoveries to a defendant's own profits. See, e.g., Liu v. SEC, 140 S. Ct. 1936, 1945 (2020); Elizabeth v. Pavement Co., 97 U.S. 126, 140 (1878). The court of appeals in this case rejected that principle, and in so doing it diverged from multiple other circuits and this Court's precedent.

Whether a court may order a defendant to disgorge profits from non-party affiliated entities in a Lanham Act trademark infringement case without piercing the corporate veil or alleging contributory infringement