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Blockchain firm R3 is suing O(1) Labs Operating Corporation for launching a decentralized blockchain protocol under ‘CODA’ trademark, which it claims is “confusingly similar” to its ‘CORDA’ trademark.
This was first reported by The Block. According to the trademark lawsuit filed on October 24 in the U.S. District Court in Delaware, R3 said that it advised O(1) Labs of their infringing use of CODA mark after it came to know about it.
“Defendants, however, proceeded with the launch of its blockchain protocol under the CODA Mark (CODA Protocol) in a willful manner that is likely to cause consumer confusion and deceive the public regarding the source, sponsorship, and/or affiliation of the CODA Protocol. Defendants' use, promotion, marketing, and distribution of their CODA Protocol is therefore unlawful and is causing irreparable harm to R3,” R3 said.
R3 pointed out that it formally introduced its blockchain platform under the CORDA brand back in April 2016, adding that “the CORDA Mark quickly came to signify the quality and reputation of R3 in the blockchain space.”
The CORDA mark is registered with the United States Patent and Trademark Office (USPTO), according to the lawsuit. R3 said that it owns numerous related foreign registrations for the CORDA Mark including in Australia, the European Union, Japan, Singapore and Brazil and has also applied for federal trademark registration for the CORDA logo in August this year.
R3 alleges that the CODA Protocol appears to be “highly related” to its CORDA platform and software, adding that O(1) Labs and R3 could be said to be competing in the same marketplace.
“Upon information and belief, Defendants had actual notice of R3's rights in the CORDA Mark at the time they initiated use of the CODA Mark, and Defendants at least had constructive notice of R3’s rights in the CORDA Mark. This notice, at least, suggests Defendants had a bad faith intent to profit from the use of a confusingly similar mark to CORDA in order to trade off of the significant goodwill R3 has developed in its CORDA Mark over the past three years,” the lawsuit read.
Earlier this month, online banking startup Finco Services also filed a trademark lawsuit against social media giant Facebook over the logo of its planned crypto wallet “Calibra,” Reuters reported.
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