Alibaba Files Trademark Suit Against AlibabaCoin Cryptocurrency
This week, Chinese e-commerce company, Alibaba Group Holding Ltd, sued a company called Alibabacoin for “prominent, repeated, and intentionally misleading” use of its trademarks in its effort to raise more than $3 million in cryptocurrency called “AlibabaCoins.”
Alibaba accuses Alibabacoin, which is also known as ABBC Foundation, of operating an “unlawful scheme to misappropriate”Alibaba’s brand name. CoinDesk reports the complaint reads:
“Rather than build independent value in their brand and the products and services they offer, Defendants have engaged in a willful and concerted […]