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Rather, it was from a much earlier choice made by Chicago-based entrepreneur John D. Hertz, who founded the Yellow Cab Company in 1914, and used the color to brand his business.
In one case, for example, Black and White Taxicab Co. v. Brown and Yellow Taxicab Co. 276 U.S. 518 (1928), the Brown and Yellow Cab Company, a Kentucky corporation, sought to create a business association with the Louisville and Nashville Railroad, where Brown and Yellow would have a monopoly on soliciting passengers of the railroad, effectively eliminating the competition, the Black and White Cab Co.