Cryptocurrency Alibabacoin denies trademark infringement allegations
An unprecedented situation aroused a day before when Alibabacoin Foundation a Dubai based cryptocurrency has responded in US court against trademark infringement charges by the giant Chinese online retailer Alibaba Group.
Alibaba alleged that “prominent, repeated, and intentionally misleading” use of its trademarks by the alibabacoin foundation. After seeing the depth of the matter judge at the U.S. District Court in Manhattan imposed a temporary restraining order on cryptocurrency Alibabacoin Foundation.
In response to the allegation put on Alibabacoin foundation lawyer of Alibabacoin foundation given a response that the company had no intention of malice or infringe the Alibaba’s intellectual property and even don’t gained anything from using the name on adding this, he said the lawsuit to stop cryptocurrency with this name and restart with other was
“Neither a reasonable or proportionate response to our client’s entirely legitimate use of an inherently generic word which emanates not from China, but indeed from the very region in respect of which your client would seek to prohibit its use.”
The popular Middle Eastern folk tale “Ali Baba and the Forty Thieves” has Alibaba as its protagonist.
Alibaba is China’s biggest online e-commerce website and also has its foot in other countries of the world and its founder jack maa also had a heroic story behind the start of Alibaba.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.