{"id":71315,"date":"2023-10-11T06:14:21","date_gmt":"2023-10-11T10:14:21","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/us-supermarket-trader-joes-takes-legal-action-against-crypto-project-over-name-resemblance\/"},"modified":"2023-10-11T06:14:25","modified_gmt":"2023-10-11T10:14:25","slug":"us-supermarket-trader-joes-takes-legal-action-against-crypto-project-over-name-resemblance","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=71315","title":{"rendered":"US Supermarket Trader Joe\u2019s Takes Legal Action Against Crypto Project Over Name Resemblance"},"content":{"rendered":"
\n

Popular US supermarket chain Trader Joe\u2019s<\/strong> has sued decentralized exchange (DEX) Trader Joe<\/strong> for federal trademark infringement.<\/p>\n

According to the filing, the DEX\u2019s branding is designed to allow it to profit from the supermarket\u2019s reputation by \u201ccausing confusion as to the source, sponsorship, affiliation, or endorsement\u201d of the DEX\u2019s website and services.<\/p>\n

The crypto project neither asked for nor received Trader Joe\u2019s permission to name their platform after the grocery shop chain, it said.<\/p>\n

Trader Joe\u2019s sent Trader Joe several cease-and-desist letters since September 2021, but the latter \u201cfailed to respond, let alone comply.\u201d<\/p>\n

Trader Joe’s seeks to shut down Trader Joe, statutory and punitive damages, cost of suit, attorneys’ fees, and other relief.<\/p>\n

Trader Joe’s also asks for a jury trial.<\/p>\n

Alleged Theft of Intellectual Property<\/h2>\n

Trader Joe has violated a number of Trader Joe\u2019s intellectual property rights, says the suit.<\/p>\n

The DEX uses the domain name traderjoexyz.com, and has also registered trader-joes.site and trader-joe.website.<\/p>\n

Imagery is also deliberately similar, the company alleges, evoking Trader Joe\u2019s business and brand, the company said, adding:<\/p>\n

\n

\u201cAn image of \u201cTrader Joe\u201d donning a red cap (the famed color of Trader Joe\u2019s logo, store motifs, and memorabilia) serves as the platform\u2019s avatar.\u201d<\/p>\n<\/blockquote>\n

There is also a Trader Joe app, enabling users to consume the platform\u2019s goods and services under the \u201cTrader Joe\u201d name.<\/p>\n

Trader Joe also operates a number of social media sites under the same name to publicize the platform and promote its services. These include Twitter\/X<\/strong>, Reddit<\/strong>, Github<\/strong>, LinkedIn<\/strong>, Substack<\/strong>, Telegram<\/strong>, and Discord<\/strong>.<\/p>\n

\u2018My Brother Joe\u2019<\/h2>\n

Trader Joe \u201cengaged in fraud\u201d to hold onto the platform and domain name as long as possible, the suit alleges.<\/p>\n

\n

\u201cDefendants committed fraud to obscure that origin story and to prevail in international legal proceedings with Trader Joe\u2019s over the domain name, recognizing that the true story would doom their case […].\u201d<\/p>\n<\/blockquote>\n

This refers to last year’s failed attempt to shut the DEX down.<\/p>\n

In May 2022, Trader Joe\u2019s filed a complaint with the World Intellectual Property Organization<\/strong> (WIPO) against Trader Joe. The latter subsequently claimed that the platform had been named for the co-founder\u2019s brother.<\/p>\n

\n

\u201cBased on those representations\u2014now known to be false\u2014WIPO denied Trader Joe\u2019s complaint […]\u201d<\/p>\n<\/blockquote>\n

Weeks later, a cofounder who operates under the alias \u201ccryptofish\u201d wrote on Substack that the platform had, in fact, been named \u201cafter the supermarket,\u201d revealing that it had misled WIPO, Trader Joe’s said.<\/p>\n

The DEX\u2019s intentional use of Trader Joe\u2019s mark, said the supermarket, shows that the infringement is deliberate and designed to lead to confusion and financial benefit.<\/p>\n

Trader Joe DEX, operating on Avalanche<\/strong>, BNB Chain<\/strong>, Arbitrum<\/strong>, and Ethereum<\/strong>, has $22.1 million in total value locked, per DeFiLlama – down from $2.59 billion seen in December 2021.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Popular US supermarket chain Trader Joe\u2019s has sued decentralized exchange (DEX) Trader Joe for federal trademark infringement. According to the filing, the DEX\u2019s branding is designed to allow it to profit from the supermarket\u2019s reputation by \u201ccausing confusion as to the source, sponsorship, affiliation, or endorsement\u201d of the DEX\u2019s website and services. The crypto project […]<\/p>\n","protected":false},"author":1,"featured_media":71316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-71315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nUS Supermarket Trader Joe\u2019s Takes Legal Action Against Crypto Project Over Name Resemblance | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Popular US supermarket chain Trader Joe\u2019s has sued decentralized exchange (DEX) Trader Joe for federal trademark infringement.According to the filing, the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=71315\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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