The cost of independence

Christopher Bray founded Ariel Capital Advisors nearly two years ago, naming the Florida-based advisory firm after his 4-year-old daughter. Now he is being sued by Ariel Investments, a $10 billion Chicago-based mutual fund company, for allegedly infringing on its trademark.

Mr. Bray, whose firm has about $225 million in assets under management, doesn't want to change his company's name and is fighting the fund company in court. But that is coming at a cost, both in legal expenses and time that could be better spent growing his young business.

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