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Encrypted messaging firm Telegram has filed a trademark swimsuit towards a Florida firm that additionally intends to create a cryptocurrency named “gram.”
The swimsuit, which was filed on May 11 within the San Francisco department of the US District Court for the Northern District of California, alleges that Lantah LLC violated Telegram’s service mark rights when it filed a trademark software for “gram” in February. The information was first reported by authorized publication The Recorder.
As CLC has reported, the Pavel Durov-led agency raised $1.7 billion from a bunch of lower than 200 accredited buyers to fund the event of the long run Telegram Open Network (TON), whose native cryptocurrency shall be referred to as GRAM.
However, in February Lantah LLC filed a trademark registration for “gram,” stating that it supposed to develop a “virtual currency for use by members of an on-line community via a global computer network.” That software, by the way, was filed after Telegram had begun elevating funds for its community.
Telegram claims that it has acquired “common law trademark rights” to GRAM because it has already performed a “widely reported on and highly successful offering of Purchase Agreements” utilizing the time period. The agency additional alleges that Lantah is working in unhealthy religion and seeks to revenue from model confusion.
From the criticism:
“Lantah’s unauthorized use in commerce of a service mark that’s confusingly comparable to Telegram Messenger’s GRAM mark has brought on and is probably going to proceed to trigger confusion or mistake, or to deceive customers and potential customers, the general public, and the commerce regarding an affiliation, connection, or affiliation between Lantah and Telegram when there is no such thing as a such affiliation, connection, or affiliation.”
Such model confusion can have severe penalties. When Venezuela started accepting preorders for its “petro” cryptocurrency earlier this 12 months, an unrelated token of the identical identify briefly skilled a pronounced value rally as confused buyers bought it considering they have been shopping for the state-backed token.
Daniel Jeffrey, the principal proprietor of Lantah LLC, informed CLC in an emailed assertion that, opposite to Telegram’s declare, Lantah was utilizing the “gram” trademark earlier than it was even conscious that Telegram had determined to market a product below the identical identify.
“Lantah was publicly utilizing the Gram identify earlier than we have been even conscious of Telegram’s choice to market one in all their merchandise with the identical identify. This was backed up by the supply of the trademark,” he mentioned. “We are now having the matter reviewed by counsel.”
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