They say that imitation is the highest form of flattery, but it’s an entirely different story when you’re talking about trademark infringement. That is how super tech giant Oracle views it, as they are suing blockchain startup company CryptoOracle over trademark infringement as well as cybersquatting allegations.
Oracle is one of the largest tech companies on the planet. They are currently in over 175 countries across the globe and earned revenues of nearly $40 billion in 2018. It is understandable that some would try to figure out a way to benefit from this type of success, but using Oracle’s name to help accomplish that goal appears to have crossed the line.
Oracle’s lawsuit points to the fact that CryptoOracle has infringed upon their trademark by using the global giant’s name within their company name. Oracle claims that this has not only infringed upon their rights but has helped to water down and dilute the name. In a statement, Oracle explained that the lawsuit “became necessary to stop CryptoOracle and Mr. [Louis] Kerner from trading on the reputation and good-will that Oracle has earned among consumers throughout the technology industry.”
Kerner helped to start CyptoOracle in 2017 and is listed as a former Goldman Sachs executive. He lists his new company as an advisory firm that looks to help entrepreneurs and businesses looking to get into the blockchain space. The site also provides opportunities to attend meetings or educational events.
Oracle had tried to settle the matter out of court by using a cease and desist notice, but that simply inspired Kerner to supply his trademark application using the brand name. This led to the lawsuit.
Oracle appears to support the work that CryptoOracle is doing, but not at the price of their widely recognized trademark. In court documents, the company explained, “While Oracle would otherwise welcome some of the defendants’ endeavors, including events aimed at fostering a community around innovative and curious blockchain-enthusiasts, Oracle cannot tolerate the use of its famous trademark to brand [the] defendants’ business.”
In the filing, Oracle requested that the court force CryptoOracle to withdraw their trademark application, and remove any related branding using the name from websites and other promotional materials. While not specifically cited in the suit, an attorney for Oracle explained that the company is also entitled to any profits that CryptoOracle may have acquired through the use of this name.
At the moment, no date has been given as to when court proceeding is expected to occur.
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