Bitcoin News and Finance
US Grocery Chain Trader Joe’s Sues Decentralized Exchange Trader Joe for Trademark Infringement Skip to main content

US Grocery Chain Trader Joe’s Sues Decentralized Exchange Trader Joe for Trademark Infringement

US Grocery Chain Trader Joe’s Sues Decentralized Exchange Trader Joe for Trademark Infringement

Grocery chain Trader Joe’s filed a lawsuit this month against the decentralized exchange (dex) platform Trader Joe for trademark infringement. The suit, filed in federal court in Los Angeles, alleges that Trader Joe illegally copied the Trader Joe’s brand name and seeks to bar the exchange from using the name.

Supermarket Trader Joe’s Says Dex Platform Causes Reputational Damage and Brand Erosion

Trader Joe’s, the national chain of grocery stores known for its private label products, sued Trader Joe in federal court for illegally using its trademark. The lawsuit alleges that the dex platform, which launched in 2021, infringes on Trader Joe’s brand name.

The grocery retailer outlined several instances of alleged illegal use, including Trader Joe naming their exchange “after the supermarket” without permission and using the exact “Trader Joe’s” trademark on their website and social media. Trader Joe’s sent multiple cease-and-desist letters demanding the exchange stop using the name, which were allegedly ignored.

The lawsuit claims that the exchange’s use of a confusingly similar name causes reputational damage and erodes Trader Joe’s brand recognition. The complaint seeks an injunction barring further use of Trader Joe’s trademarks and domain names.

“​​Defendants’ ‘Trader Joe’ branding is designed to allow them to commercially profit from Trader Joe’s famous mark and broader reputation by causing confusion as to the source, sponsorship, affiliation, or endorsement of defendants’ website and services and by trading on Trader Joe’s hard-earned goodwill and name recognition,” the supermarket’s lawyers argue.

Founded in 2021 by pseudonymous developers Cryptofish and Oxmurloc, Trader Joe operates a dex, liquidity pools, and lending services on the Avalanche blockchain with over $76 million in total value locked. The exchange also has a native token, JOE, currently trading around $0.23.

Trader Joe’s alleges the exchange misled an international domain name dispute resolution process by claiming the platform was named after the developer’s brother Joe Liu. The complaint calls this a fraudulent attempt to avoid transferring the traderjoexyz.com domain name.

The lawsuit asserts counts of federal trademark infringement and dilution, cybersquatting, unfair competition, and conversion. Trader Joe’s is seeking injunctive relief, damages, and legal fees.

What do you think about Trader Joe’s suing the decentralized exchange over its name? Share your thoughts and opinions about this subject in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory