Oracle Files Lawsuit Against Crypto Oracle for Trademark Violations
Oracle Corporation has initiated legal proceedings against Crypto Oracle LLC and its founder Louis Kerner, alleging violations of a prior settlement and trademark infringement. The lawsuit was filed in a California federal court on November 25. The dispute originated in 2019 when Oracle accused Crypto Oracle of misusing its trademark to promote cryptocurrency services under the "Crypto Oracle" brand.
Despite reaching a confidential settlement, a court order permanently prohibited Crypto Oracle from using the "Crypto Oracle" name or any variation of the Oracle trademark. However, Oracle claims that Crypto Oracle has resumed using the "Crypto Oracle" name and brand, violated a 2020 court injunction, retained the domain name, and hosted events under the "Crypto Oracle Collective" label, which allegedly breaches the settlement agreement.
Oracle is seeking monetary damages, statutory penalties, and the removal or transfer of domains and branding associated with the Crypto Oracle name. Currently, Crypto Oracle representatives have not publicly addressed the allegations, and their legal representation is unclear.
Trademark Disputes in the Crypto Space
The trademark dispute between Oracle Corporation and Crypto Oracle reflects broader issues within the crypto industry. For instance, in 2023, NanoLabs sued Coinbase for trademark infringement related to its Nano Bitcoin and Ether futures contracts. In 2022, Dfinity Foundation filed a lawsuit against Meta over trademark infringement concerning its infinity logo.
Additionally, Phillip Banks, creator of the meme coin 'Just a Chill Guy,' announced copyright protection for his character. He confirmed on X that the character is legally copyrighted and will issue takedowns for unauthorized profit-driven uses. The “Chill Guy” meme, popularized in late 2023, became associated with the $CHILLGUY token, contributing to its rapid popularity.
The prevalence of trademark disputes in the crypto space highlights the complexities of intellectual property law, where branding is vital for consumer trust and market recognition. To mitigate risks, crypto companies, especially startups, should register trademarks, secure domain names, and obtain copyrights early. Conducting thorough due diligence on names, logos, and slogans can help avoid overlaps with existing trademarks, thereby reducing the likelihood of infringement claims.