FRANKEN IS NEITHER A JOURNALIST nor a television news personality,” reads the trademark lawsuit filed this week by the Fox News Channel against leftist humorist Al Franken. “He is not a well-respected voice in American politics,” the complaint continues. “Rather, he appears to be shrill and unstable. His views lack any serious depth or insight.” At the heart of this lawsuit are three words, “fair and balanced.” Fox, part of Rupert Murdoch’s News Corporation, says it registered “Fair & Balanced” (using an ampersand, a symbol meaning “and”) as a trademark in 1995 and has spent the equivalent of $41 million...