Monday 09, April 2018 by Jessica Combes

Alibabacoin denies trademark infringement

 

Dubai-based cryptocurrency company Alibabacoin Foundation has rejected allegations of trademark infringement brought against it by the giant Chinese online retailer Alibaba Group Holding.

A judge at the US District Court in Manhattan imposed a temporary restraining order on Alibabacoin Foundation after Alibaba filed a complaint accusing it of making “prominent, repeated, and intentionally misleading” use of its trademarks, according to Reuters.

The company denied intending to infringe on Alibaba’s intellectual property, and according to Alibabacoin Foundation’s lawyers, the lawsuit’s demand for it to shut down and restart with another name was neither a reasonable or proportionate response to the use of an inherently generic word which emanates from the region where the plaintiff seeks to prohibit its use.

Ali Baba is the protagonist in the Middle Eastern folk tale, Ali Baba and the Forty Thieves; China’s Alibaba Group Holding is one of the world’s biggest e-commerce companies.

  

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