San Francisco-based venture company Blockchain Capital filed a lawsuit against another similarly named Florida based firm on Thursday for infringement on its trademark. The other company which goes by the name Blockchain Capital. Management LLC (BCM) was owned by one Fareed Iftikhar whose company also operated in the financial services sector.
According to case papers filed by the venture firm, Blockchain Capital wanted the Florida Secretary of State to dissolve BCM or force it to remove ‘Blockchain Capital’ from the name of the company.
Moreover, the company claimed that it has been continuously using its Blockchain Capital trademark for more than five years and has expended considerable resources in promoting its name. The firm further said that the similarity in the company names would cause confusion in the minds of its investors, traders and media outlets that often cover it. As of press time Blockchain Capital has not yet mentioned whether it would claim any damages from the accused firm.
The court document did not mention whether Ifthikar would continue the case but other media sources claimed that BCM may soon be dissolved.
Blockchain Capital, that invests in blockchain technology was co-founded by crypto entrepreneur Brock Pierce, Bart Stephens and Bradford Stephens in 2013. So far, the firm has invested in over 55 tokens and equities.
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