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Wednesday, August 10, 2022

FTX Has No Pending Suits Against Its Name Anymore

The lawsuit that Jack in the Box put against FTX US over copyright infringement has drawn to a close after both parties reached a settlement. The duo went on to inform the District Court for the Southern District of California that they had already gone ahead and resolved the dispute through a motion to dismiss on the 20th of January, however the specific details of such a settlement have not yet been disclosed.

The popular chain of fast food had initially filed the suit at the beginning of November, where it alleged that the appearance and behavior of the crypto company’s mascot was a blatant rip-off of the Jack mascot that had trademark rights since 1995.

FTX and JITB Have Reached A Settlement

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Jack in the Box was ideally looking towards unspecified damages over allegations that were related to copyright infringement, trademark infringement, trademark dilution, unfair competition, and false designation of origin against FTX. The company alleged, in a multitude of court documents, that the crypto company had brazenly and illegally derived and copied its mascot from JITB’s Jack, rather than spending its vast financial resources to bring out its own intellectual property. 

Cointelegraph nevertheless reached out to FTX regarding the details of this surprising settlement, and a representative from the company mentioned that the terms of the settlement weren’t disclosed which negated the need for further comment. 

The Moon Man mascot of FTX has been a regular feature on several TV commercials and also at MLB games- which the company has a branding partnership with- among others- but depending on the settlement, this might not be the case anymore.

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