A Lawsuit Filed Against Facebook Regarding the Trademark Infringement

3 min reading
calibra-current.png

It seems that the losing streak around Libra is endless as recent weeks have been quite pessimistic for this project. Not only have several members decided to leave the association, but also Facebook will have to face another problem, this time regarding a trademark.

It turns out that the Calibra's logo, a subsidiary of a social media giant, is almost identical to the trademark that has been used by the mobile banking application, Current, since 2016. This similarity was noticed in June, when Facebook announced the planned date of the start of its project. Stuart Sopp, the CEO of Current, strongly criticized the actions of the social media giant then, claiming that he wanted to build up trust in consumers in his own financial system at the expense of another fintech brand.

"Facebook has all the money and resources in the world. If they truly wanted to make banking more inclusive and fair, they should’ve come up with their own ideas and branding, like we have."

- adds Stuart Sopp.

On Thursday (i.e. 10.10.2019), Current filed a lawsuit against Facebook, explaining that the Calibry trademark, by being almost identical, could mislead users. What is interesting, is that both logos were designed by the same branding company from San Francisco. Hence the similarity. There is no doubt that these signs could have been created by various design teams, they were created with a time interval of up to three years, after all. Nevertheless, such glaring similarities should not occur among companies in the same industry, and, as it is known, both of them revolve among digital financial ventures. Moreover, not only the same shapes were used, but also a similar color palette.

It is undoubtedly a significant blow to Facebook. The Libra project has faced many obstacles from the beginning, especially from regulators. Not so long ago, five companies related to payment services withdrew from the consortium. These include: PayPal, eBay, Stripe, Visa and MasterCard. Three of them received letters from American senators urging them to consider the risks connected to this project. There is a possibility that this was the main stimulus that contributed to this sudden decision. 

It is also worth reminding that Mark Zuckerberg, the CEO of Facebook, has recently received a summons to appear at the hearing before the US Congress. Although the title of the conversation was: "Facebook’s broad impact on the financial services and housing industries" it is highly likely that Libra case will also be discussed during its duration.

Waluta Kurs Dokonaj zakupu

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Tokeneo TEO OU. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is TOKENEO TEO OÜ (an Estonian law limited liability company) with its registered offices in Tallinn (in the province of Harju Maakond), at 19-7K Maakri Street (in the district of Kesklinna Iinnaosa), 10-145 Tallinn, Estonia, registered on 21.12.2018 in the Estonian Business Register under number 14630242, using the EU VAT number: EE102149487.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.