Alibaba receives preliminary ban on the Alibabacoin Foundation

On October 24th, Alibaba has obtained a preliminary ban on the cryptocurrency company Alibabacoin Foundation. This is undoubtedly good news for Alibaba. After all, the company has always valued the value of the brand.

According to US media reports, Alibaba won the court’s temporary injunction in a lawsuit against the Alibabacoin Foundation. Alibaba said that with the evidence found, the company believes that the cryptocurrency company has issued further promotional materials using the same trademark as Alibaba.

The ban will “prohibit the defendant from using Alibaba’s trademarks anywhere in the United States, as defined by Alibaba’s initial injunction application, and also includes any words, terms, names, logos or designs, and any confusion or possible damage. Alibaba’s logo, image or description.”

On October 22, the Southern District Court of New York of the United States made the above judgment. The lawsuit lists a number of defendants, including the Alibaba Coin Foundation, ABBC Foundation, ABBC Blockchain IT Solutions, Alibaba Trade Corporation, Alibaba Coin Fund Company and company founder Jenson Daniel, Paul · Philip and Hassan Abbas.

In fact, Alibaba filed a lawsuit against the cryptocurrency company Alibabacoin Foundation in April, but it was rejected by the court at the time because “Alibaba did not fulfill its responsibility and established a reasonable possibility for the court to have personal jurisdiction over “Alibaba.” “Alibaba.” is allegedly from Dubai and White Rose.

It is understood that on April 2 this year, Alibaba filed a lawsuit against the cryptocurrency company Alibabacoin Foundation. Alibaba alleged that the company used its registered trademark name to raise more than $3.5 million through the issuance of the cryptocurrency “Alibabacoins”, allegedly infringing its trademark rights.

The Alibabacoin Foundation denied the allegation. The lawyers said that the company had no intention of infringing Alibaba’s intellectual property rights, and pointed out that it was “unreasonable” for Alibaba to ask the company to close its business or re-name it. The company’s lawyers also said that their company name is not imitating Chinese companies, but from the famous legend in the Middle East – “Alibaba and Forty Thieves.”

At that time, Alibaba Group submitted an indictment to the Federal District Court of Manhattan, but Manhattan District Court Judge Paul Oetken believes that Alibaba Group has no evidence to prove that it has jurisdiction, because there is no indication that the “Alibaba Foundation” The website is used to trade with customers in New York.

Paul Oetke also said that because Alibaba’s headquarters is in China, any business, goodwill and reputation damage that Alibaba may suffer from trademark infringement may only occur in China.

Alibaba’s lawsuit against Alibaba is because the influence of trademarks as intangible assets of the company far exceeds your imagination, and Alibaba’s reaching a high of $1.63 on October 18 seems to prove this. . In addition, according to the “2018 Global 100 Most Valuable Technology Brands List” issued by Brand Finance, the UK’s authoritative brand evaluation agency, 18 Chinese technology companies were listed, and Ali, Tencent and Huawei entered the top ten. At the same time, Alibaba is also ranked first in Chinese brands.