US Supermarket Trader Joe’s Takes Legal Action Against Crypto Project Over Name Resemblance
US-based supermarket chain Trader Joe’s, owned by Germany’s Aldi Group, has reportedly filed a legal complaint against blockchain-based project Tradercoin for violating its trademark.
According to the complaint filed in California, Trader Joe’s claims that the similarity in the names and the logo of Trader Joe’s and Tradercoin could confuse consumers into thinking that the supermarket is somehow connected to the blockchain project.
The complaint claims that Tradercoin “has engaged in a number of acts of unfair competition and trademark infringement” by using a logo and name “confusingly similar” to those of Trader Joe’s. The company also alleges that the use of its name and logo by Tradercoin has caused “irreparable harm” and requests an injunction to stop the crypto project from continuing to use it.
The suit also states that Trader Joe’s has sought to resolve the issue in private negations, but “failed to obtain those results” and was forced to take legal action.
Tradercoin is a blockchain-based platform that is designed to facilitate fast and secure trading of cryptocurrencies such as Bitcoin and Ethereum. It currently has its own native token called TRDC, which is currently listed on several popular cryptocurrency exchanges.
The complaint comes as a reminder to the crypto industry that companies can and do take legal action against projects that they consider to be violating their intellectual property rights. It is highly advisable that crypto projects conduct thorough research to ensure that the names, logos, and other branding do not violate the rights of other entities in the market.