On Dec. 27, 2020, the Trademark Modernization Act of 2020 (TMA) became law. A key component of that legislation was the codification in Section 34(a) of the Lanham Act of the common-law principle that a trademark owner seeking injunctive relief in actions for trademark infringement and unfair competition under Sections 32 and 43 of the Lanham Act is entitled to a rebuttable presumption of irreparable harm. The presumption arises upon the movant demonstrating liability at the proof stage, or a showing of a likelihood of liability in the context of motions for expedited relief seeking a temporary restraining order or a preliminary injunction.